GE Aerospace $GE Stock: Danske Bank A S Increases Position

Danske Bank A S increased its holdings in GE Aerospace (NYSE:GE) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 655,986 shares of the company’s stock after acquiring an additional 9,595 shares during the period. Danske Bank A S owned about 0.06% of GE Aerospace worth $204,858,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GE. Rasp Wealth Solutions LLC increased its holdings in GE Aerospace by 4.8% during the third quarter. Rasp Wealth Solutions LLC now owns 1,515 shares of the company’s stock worth $473,000 after buying an additional 70 shares during the last quarter. MSH Capital Advisors LLC raised its holdings in shares of GE Aerospace by 8.9% in the 3rd quarter. MSH Capital Advisors LLC now owns 1,680 shares of the company’s stock worth $525,000 after purchasing an additional 137 shares during the period. Cornerstone Advisory LLC raised its holdings in shares of GE Aerospace by 12.9% in the 3rd quarter. Cornerstone Advisory LLC now owns 2,717 shares of the company’s stock worth $849,000 after purchasing an additional 310 shares during the period. Shah Wealth Advisors LLC raised its holdings in shares of GE Aerospace by 38.6% in the 3rd quarter. Shah Wealth Advisors LLC now owns 4,752 shares of the company’s stock worth $1,484,000 after purchasing an additional 1,323 shares during the period. Finally, Bernicke Wealth Management Ltd. purchased a new position in GE Aerospace in the third quarter valued at approximately $814,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Robert Giglietti sold 14,796 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $6,717,640.54. This trade represents a 42.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.

GE Aerospace Price Performance

GE traded up $0.62 during trading on Friday, reaching $331.48. 3,374,099 shares of the company were exchanged, compared to its average volume of 5,656,815. GE Aerospace has a 12-month low of $268.91 and a 12-month high of $388.84. The company’s 50-day moving average is $314.81 and its two-hundred day moving average is $324.02. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.96. The company has a market cap of $342.53 billion, a price-to-earnings ratio of 38.23, a P/E/G ratio of 2.25 and a beta of 1.43.

GE Aerospace (NYSE:GE) last posted its earnings results on Tuesday, October 20th. The company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $12.88 billion. During the same quarter in the previous year, the firm earned $1.66 EPS. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. Research analysts forecast that GE Aerospace will post 8.16 earnings per share for the current fiscal 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 paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, October 5th. This represents a $1.88 annualized dividend and a yield of 0.6%. GE Aerospace’s dividend payout ratio (DPR) is currently 21.68%.

Analyst Ratings Changes

Several brokerages have weighed in on GE. The Goldman Sachs Group reissued a “buy” rating and issued a $410.00 target price on shares of GE Aerospace in a research report on Monday, July 20th. Susquehanna dropped their price target on GE Aerospace from $430.00 to $400.00 and set a “positive” rating on the stock in a research report on Wednesday, October 21st. Morgan Stanley reiterated an “overweight” rating and set a $375.00 price target (down from $400.00) on shares of GE Aerospace in a research note on Wednesday, October 21st. Royal Bank Of Canada set a $376.00 price objective on GE Aerospace in a report on Friday, October 23rd. Finally, HC Wainwright set a $375.00 price objective on GE Aerospace in a research note on Wednesday, October 21st. Sixteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, GE Aerospace has a consensus rating of “Moderate Buy” and a consensus target price of $373.45.

GE Aerospace Company 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.