GE Aerospace $GE Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System increased its position in GE Aerospace (NYSE:GE) by 13.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,218 shares of the company’s stock after acquiring an additional 7,566 shares during the period. Maryland State Retirement & Pension System’s holdings in GE Aerospace were worth $19,742,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GE. Cabot Wealth Management Inc. raised its holdings in GE Aerospace by 6.5% during the third quarter. Cabot Wealth Management Inc. now owns 1,600 shares of the company’s stock worth $500,000 after purchasing an additional 98 shares during the last quarter. UNIVEST FINANCIAL Corp grew its holdings in GE Aerospace by 11.2% in the third quarter. UNIVEST FINANCIAL Corp now owns 2,932 shares of the company’s stock valued at $916,000 after purchasing an additional 295 shares during the last quarter. Joel Isaacson & Co. LLC grew its holdings in GE Aerospace by 4.1% in the third quarter. Joel Isaacson & Co. LLC now owns 9,047 shares of the company’s stock valued at $2,825,000 after purchasing an additional 359 shares during the last quarter. Jacobi Capital Management LLC increased its position in shares of GE Aerospace by 0.8% in the third quarter. Jacobi Capital Management LLC now owns 4,669 shares of the company’s stock valued at $1,458,000 after buying an additional 38 shares in the last quarter. Finally, First Command Advisory Services Inc. increased its position in shares of GE Aerospace by 15.1% in the third quarter. First Command Advisory Services Inc. now owns 2,998 shares of the company’s stock valued at $936,000 after buying an additional 394 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GE has been the subject of several research reports. JPMorgan Chase & Co. cut their price target on GE Aerospace from $400.00 to $375.00 and set an “overweight” rating for the company in a research note on Wednesday, October 21st. UBS Group reissued a “buy” rating and issued a $380.00 price objective (up from $377.00) on shares of GE Aerospace in a research note on Wednesday, October 21st. Wells Fargo & Company cut their target price on shares of GE Aerospace from $390.00 to $380.00 and set an “overweight” rating for the company in a research report on Wednesday, September 30th. Sanford C. Bernstein set a $376.00 price target on shares of GE Aerospace in a report on Friday, October 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of GE Aerospace in a research report on Thursday, October 15th. Sixteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $373.45.

Insiders Place Their Bets

In related news, VP Robert Giglietti sold 14,796 shares of the business’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $332.54, for a total value of $4,920,261.84. Following the completion of the transaction, the vice president owned 20,201 shares of the company’s stock, valued at approximately $6,717,640.54. The trade was a 42.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

GE Aerospace Stock Performance

GE Aerospace stock opened at $342.28 on Thursday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.68 and a current ratio of 0.98. The stock has a fifty day moving average of $314.82 and a two-hundred day moving average of $323.67. The company has a market capitalization of $353.69 billion, a price-to-earnings ratio of 39.48, a PEG ratio of 2.30 and a beta of 1.43. GE Aerospace has a fifty-two week low of $268.91 and a fifty-two week high of $388.84.

GE Aerospace (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.24. GE Aerospace had a return on equity of 44.43% and a net margin of 17.31%. The business had revenue of $13.29 billion for the quarter, compared to the consensus estimate of $12.88 billion. During the same period in the prior year, the business earned $1.66 earnings per share. The business’s revenue was up 24.7% on a year-over-year basis. On average, analysts anticipate that GE Aerospace will post 8.16 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Monday, October 5th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Monday, October 5th. GE Aerospace’s dividend payout ratio (DPR) is currently 21.68%.

GE Aerospace News Summary

These are some of the GE news items that stood out recently:

• Positive Sentiment: Industry production ramps and the large installed base of engines give GE opportunities to earn revenue beyond new aircraft sales, including ongoing support and services. How These 5 Aerospace Stocks Earn Money Beyond New Plane Sales
• Positive Sentiment: The State Street Industrial Select Sector SPDR (XLI) added GE on Nov. 9 as part of a broad purchase that lifted all 83 fund holdings. This may provide some buying support, although the fund’s activity was not specific to GE. State Street Industrial Select Sector SPDR Adds GE and CAT
• Neutral Sentiment: Recent Zacks articles note elevated investor attention but offer no new company-specific catalyst in the summaries provided. GE Aerospace Is Attracting Investor Attention

GE Aerospace Profile

GE Aerospace (NYSE: GE) designs, manufactures and services engines and related systems for commercial and military aircraft. Its offerings include aircraft engines, components, avionics and other integrated systems, along with maintenance, repair and overhaul services and digital solutions that support aircraft operations. The company serves airlines, aircraft manufacturers, governments and defense organizations around the world. Its business combines original equipment production with long-term aftermarket support, including parts and technical services for engines already in operation.