GE Aerospace (NYSE:GE) Stock Falls 4.6% After Insider Selling

Shares of GE Aerospace (NYSE:GE) traded down 4.6% on Thursday after an insider sold shares in the company. The company traded as low as $312.30 and last traded at $314.2540. 6,539,948 shares traded hands during trading, an increase of 27% from the average session volume of 5,145,173 shares. The stock had previously closed at $329.45.

Specifically, VP Robert Giglietti sold 14,796 shares of the stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $332.54, for a total transaction 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 $6,717,640.54. This represents a 42.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. TD Cowen reissued a “buy” rating and set a $380.00 price target (up from $330.00) on shares of GE Aerospace in a research note on Monday, July 13th. Sanford C. Bernstein set a $376.00 price objective on GE Aerospace in a research note on Friday, October 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $410.00 price objective on shares of GE Aerospace in a report on Monday, July 20th. Vertical Research reiterated a “buy” rating and set a $400.00 target price on shares of GE Aerospace in a research report on Tuesday, October 20th. Finally, HC Wainwright set a $375.00 target price on GE Aerospace in a research report on Wednesday, October 21st. Sixteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, GE Aerospace has a consensus rating of “Moderate Buy” and an average price target of $373.45.

GE Aerospace News Roundup

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

• Positive Sentiment: Prolonged aircraft-delivery delays are keeping older planes in service longer, supporting demand for GE’s higher-margin maintenance and parts business. One report highlighted a roughly $170 billion commercial-services backlog. GE Aerospace stock faces Boeing delays as maintenance demand rises
• Positive Sentiment: GE will supply eight gas-turbine engines for two U.S. Navy destroyers, adding defense-related business and potential follow-on service work. GE Aerospace to Supply Engines for Two US Navy Flight III Destroyers
• Neutral Sentiment: CEO Larry Culp said midterm election results are not expected to have much impact on GE Aerospace’s business, offering little immediate change to the investment outlook. GE Aerospace CEO on midterm results
• Negative Sentiment: GE updated inspection guidance for certain GEnx engines after a study flagged early turbine-blade cracks. More inspections may add costs and operational uncertainty for airlines, contributing to concerns reflected in the stock’s decline. GE Updates Engine Checks After Study Flags Early Blade Cracks
• Negative Sentiment: ETFs were net sellers of GE shares, while the stock’s premium valuation may leave it sensitive to concerns about delivery timing and execution. ETFs Are Net Sellers of General Electric

GE Aerospace Trading Down 4.6%

The stock has a market cap of $324.73 billion, a P/E ratio of 36.25, a P/E/G ratio of 2.18 and a beta of 1.43. 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’s fifty day moving average is $315.88 and its 200 day moving average is $323.12.

GE Aerospace (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $2.25 earnings per share for the quarter, topping 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 company had revenue of $13.29 billion for the quarter, compared to analysts’ expectations of $12.88 billion. During the same period in the previous year, the firm posted $1.66 earnings per share. The firm’s revenue for the quarter was up 24.7% on a year-over-year basis. As a group, equities research analysts predict that GE Aerospace will post 8.16 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Monday, October 5th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, October 5th. GE Aerospace’s dividend payout ratio (DPR) is 21.68%.

Hedge Funds Weigh In On GE Aerospace

A number of large investors have recently made changes to their positions in GE. Burkett Financial Services LLC boosted its holdings in GE Aerospace by 28.9% during the 2nd quarter. Burkett Financial Services LLC now owns 125 shares of the company’s stock valued at $47,000 after acquiring an additional 28 shares during the period. BOK Financial Private Wealth Inc. grew its position in GE Aerospace by 3.2% in the 2nd quarter. BOK Financial Private Wealth Inc. now owns 960 shares of the company’s stock valued at $359,000 after acquiring an additional 30 shares during the last quarter. Gradient Investments LLC increased its stake in GE Aerospace by 4.4% in the second quarter. Gradient Investments LLC now owns 765 shares of the company’s stock worth $286,000 after purchasing an additional 32 shares during the period. Kinloch Capital LLC increased its stake in GE Aerospace by 3.1% in the second quarter. Kinloch Capital LLC now owns 1,079 shares of the company’s stock worth $403,000 after purchasing an additional 32 shares during the period. Finally, United Community Bank lifted its position in shares of GE Aerospace by 10.1% during the second quarter. United Community Bank now owns 361 shares of the company’s stock worth $135,000 after purchasing an additional 33 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Company Profile

GE Aerospace (NYSE: GE) is a global aerospace company that designs, develops, manufactures and services aircraft engines and related systems. Its products support commercial air transport, business and general aviation, military aircraft, and other defense applications. The company also provides engine components, avionics, mechanical systems, digital solutions and maintenance, repair and overhaul services.

GE Aerospace serves airlines, aircraft operators, leasing companies, airframers and government customers worldwide.