GE Aerospace $GE Stock Acquired by Kestra Advisory Services LLC

Kestra Advisory Services LLC increased its position in shares of GE Aerospace (NYSE:GE) by 22.1% in the third quarter, HoldingsChannel.com reports. The firm owned 135,326 shares of the company’s stock after acquiring an additional 24,504 shares during the quarter. Kestra Advisory Services LLC’s holdings in GE Aerospace were worth $42,261,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GE. State Street Corp raised its stake in GE Aerospace by 2.6% in the second quarter. State Street Corp now owns 46,497,628 shares of the company’s stock valued at $17,377,559,000 after buying an additional 1,160,584 shares in the last quarter. Jennison Associates LLC boosted its position in shares of GE Aerospace by 37.7% during the 1st quarter. Jennison Associates LLC now owns 11,026,006 shares of the company’s stock worth $3,128,850,000 after acquiring an additional 3,017,937 shares in the last quarter. Bank of America Corp DE boosted its position in shares of GE Aerospace by 10.0% during the 1st quarter. Bank of America Corp DE now owns 7,664,679 shares of the company’s stock worth $2,175,006,000 after acquiring an additional 695,731 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of GE Aerospace by 6.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,251,603 shares of the company’s stock valued at $2,710,142,000 after acquiring an additional 427,820 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of GE Aerospace by 97.3% in the 2nd quarter. Wellington Management Group LLP now owns 6,797,935 shares of the company’s stock valued at $2,540,592,000 after acquiring an additional 3,352,432 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GE. Sanford C. Bernstein set a $376.00 target price on GE Aerospace in a research report on Friday, October 23rd. Royal Bank Of Canada set a $376.00 price target on GE Aerospace in a report on Friday, October 23rd. UBS Group reiterated a “buy” rating and issued a $380.00 price target (up from $377.00) on shares of GE Aerospace in a research note on Wednesday, October 21st. HC Wainwright set a $375.00 price target on shares of GE Aerospace in a research note on Wednesday, October 21st. Finally, Guggenheim set a $380.00 price objective on shares of GE Aerospace in a report on Wednesday, October 21st. Sixteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, GE Aerospace has an average rating of “Moderate Buy” and an average price target of $373.45.

Insider Transactions at GE Aerospace

In other GE Aerospace news, VP Robert Giglietti sold 14,796 shares of GE Aerospace stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $332.54, for a total transaction of $4,920,261.84. Following the transaction, the vice president owned 20,201 shares of the company’s stock, valued at $6,717,640.54. The trade was a 42.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

GE Aerospace News Roundup

Here are the key news stories impacting GE Aerospace this week:

• Positive Sentiment: GE Aerospace partnered with BETA Technologies on a hybrid-electric aircraft demonstration, marking progress in a new propulsion technology area. GE Aerospace partners with BETA Technologies
• Positive Sentiment: GE is part of a team working on KC-135 modernization, adding a defense-program opportunity alongside its commercial aerospace business. SNC teams with BAE, Collins and GE for KC-135 modernization
• Neutral Sentiment: Analyst coverage highlighted GE’s roughly $170 billion services backlog and generally favorable ratings, but also questioned whether the stock’s valuation already reflects much of its growth potential. GE Aerospace backlog and valuation analysis
• Negative Sentiment: Vice President Robert Giglietti sold 14,796 shares, cutting his reported stake by about 42%. Insider sales can have many explanations, but may contribute to investor caution. GE Aerospace VP sells shares
• Negative Sentiment: ETFs were reported as net sellers of GE shares, a sign of near-term fund outflows that could weigh on sentiment. ETFs are net sellers of General Electric

GE Aerospace Stock Performance

NYSE GE traded up $8.81 during trading hours on Friday, hitting $323.54. The company had a trading volume of 5,306,018 shares, compared to its average volume of 5,237,439. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.68 and a current ratio of 0.98. GE Aerospace has a 1-year low of $268.91 and a 1-year high of $388.84. The company has a market cap of $334.33 billion, a PE ratio of 37.32, a price-to-earnings-growth ratio of 2.15 and a beta of 1.43. The business has a 50 day moving average of $314.70 and a 200-day moving average of $323.12.

GE Aerospace (NYSE:GE) last posted its earnings results on Tuesday, October 20th. The company reported $2.25 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $12.88 billion. During the same quarter in the previous year, the firm earned $1.66 earnings per share. The business’s revenue was up 24.7% compared to the same quarter last year. As a group, equities research analysts expect that GE Aerospace will post 8.16 EPS for the current year.

GE Aerospace Dividend Announcement

The company also recently declared 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. This represents a $1.88 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, October 5th. GE Aerospace’s dividend payout ratio (DPR) is currently 21.68%.

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.

GE Aerospace traces its roots to General Electric’s aviation business, which developed over more than a century.