GE Aerospace $GE Shares Sold by Aberdeen Group plc

Aberdeen Group plc reduced its position in shares of GE Aerospace (NYSE:GE) by 25.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 994,520 shares of the company’s stock after selling 343,527 shares during the period. Aberdeen Group plc’s holdings in GE Aerospace were worth $310,579,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GE. Moors & Cabot Inc. lifted its holdings in GE Aerospace by 4.2% in the 3rd quarter. Moors & Cabot Inc. now owns 16,375 shares of the company’s stock valued at $5,114,000 after purchasing an additional 655 shares in the last quarter. Valmark Advisers Inc. raised its position in shares of GE Aerospace by 9.4% in the third quarter. Valmark Advisers Inc. now owns 11,320 shares of the company’s stock valued at $3,535,000 after buying an additional 977 shares during the last quarter. William Blair Investment Management LLC lifted its stake in shares of GE Aerospace by 8.1% in the third quarter. William Blair Investment Management LLC now owns 854,907 shares of the company’s stock worth $266,979,000 after buying an additional 64,106 shares in the last quarter. Allworth Financial LP lifted its stake in shares of GE Aerospace by 13.3% in the third quarter. Allworth Financial LP now owns 64,438 shares of the company’s stock worth $20,123,000 after buying an additional 7,548 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in GE Aerospace by 4.9% during the third quarter. Fisher Asset Management LLC now owns 12,156,680 shares of the company’s stock worth $3,796,410,000 after acquiring an additional 568,633 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the subject of several research reports. Deutsche Bank reaffirmed a “buy” rating and set a $378.00 price objective on shares of GE Aerospace in a research note on Wednesday, October 21st. Sanford C. Bernstein set a $376.00 target price on shares of GE Aerospace in a research note on Friday, October 23rd. Morgan Stanley restated an “overweight” rating and set a $375.00 target price (down from $400.00) on shares of GE Aerospace in a report on Wednesday, October 21st. Susquehanna dropped their price target on GE Aerospace from $430.00 to $400.00 and set a “positive” rating for the company in a research report on Wednesday, October 21st. Finally, Melius Research set a $350.00 price target on GE Aerospace and gave the company a “hold” rating in a research report on Monday, September 14th. Sixteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $373.45.

Insider Transactions at GE Aerospace

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 sale, the vice president directly owned 20,201 shares in the company, valued at approximately $6,717,640.54. The trade was a 42.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

GE Aerospace Stock Performance

GE Aerospace stock opened at $331.48 on Friday. The stock has a market cap of $342.53 billion, a price-to-earnings ratio of 38.23, a price-to-earnings-growth ratio of 2.25 and a beta of 1.43. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.98 and a quick ratio of 0.68. The firm has a 50 day simple moving average of $314.81 and a 200-day simple moving average of $324.02. GE Aerospace has a 1-year low of $268.91 and a 1-year high of $388.84.

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

GE Aerospace Dividend Announcement

The firm 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 dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, October 5th. GE Aerospace’s dividend payout ratio (DPR) is presently 21.68%.

About GE Aerospace

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.