GE Aerospace (NYSE:GE) VP Robert Giglietti Sells 14,796 Shares of Company Stock

GE Aerospace (NYSE:GE) VP Robert Giglietti sold 14,796 shares of the business’s stock in a transaction on 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 transaction, the vice president owned 20,201 shares in the company, valued at $6,717,640.54. This trade represents a 42.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

GE Aerospace Trading Down 4.6%

Shares of GE opened at $314.25 on Friday. The company’s fifty day simple moving average is $315.07 and its 200-day simple moving average is $323.07. The company has a market cap of $324.73 billion, a P/E ratio of 36.25, a P/E/G ratio of 2.24 and a beta of 1.43. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.96. GE Aerospace has a twelve month low of $268.91 and a twelve month high of $388.84.

GE Aerospace (NYSE:GE) last released its quarterly 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 net margin of 17.31% and a return on equity of 44.43%. The firm had revenue of $13.29 billion during the quarter, compared to analysts’ expectations of $12.88 billion. During the same period in the previous year, the company earned $1.66 EPS. The firm’s revenue for the quarter was up 24.7% compared to the same quarter last year. As a group, analysts expect that GE Aerospace will post 8.16 EPS for the current year.

GE Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Shareholders of record on Monday, October 5th were paid a $0.47 dividend. 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 presently 21.68%.

Wall Street Analyst Weigh In

GE has been the topic of a number of analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $425.00 target price on shares of GE Aerospace in a research note on Sunday, October 25th. Wells Fargo & Company decreased their price target on GE Aerospace from $390.00 to $380.00 and set an “overweight” rating for the company in a research note on Wednesday, September 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $378.00 price target on shares of GE Aerospace in a research note on Wednesday, October 21st. The Goldman Sachs Group restated a “buy” rating and set a $410.00 price objective on shares of GE Aerospace in a report on Monday, July 20th. Finally, JPMorgan Chase & Co. cut their price objective on GE Aerospace from $400.00 to $375.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 21st. Sixteen 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $373.45.

Key GE Aerospace News

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

• Positive Sentiment: Delayed aircraft deliveries are keeping older planes in service longer, supporting demand for engine maintenance, replacement parts and shop visits. GE Aerospace’s commercial services backlog is reported at about $170 billion, making this a potential longer-term tailwind. GE Aerospace stock faces Boeing delays as maintenance demand rises
• Positive Sentiment: GE Aerospace is set to supply gas-turbine engines for two U.S. Navy destroyers, adding defense-related work and potential follow-on service revenue. GE Aerospace to Supply Engines for Two US Navy Flight III Destroyers
• Positive Sentiment: Technical coverage noted GE recently moved above its 200-day moving average, a signal some investors view as supportive of the longer-term trend. GE Aerospace recently broke out above the 200-day moving average
• Neutral Sentiment: CEO Larry Culp said U.S. midterm election results do not have much impact on GE Aerospace’s business, suggesting limited direct exposure to the political outcome. GE Aerospace CEO Larry Culp on midterm results
• Negative Sentiment: GE updated inspection guidance for certain GEnx-1B engines after a study identified early turbine-blade cracks. Additional inspections could complicate airline schedules and raise near-term service demands or costs; reports linked the issue to recent share weakness. GE updates engine checks after study flags early blade cracks
• Negative Sentiment: A GE Aerospace vice president sold 14,796 shares, reducing his reported stake by about 42%. Insider sales can have varied reasons, but the transaction may add to near-term caution. GE Aerospace insider transaction report
• Negative Sentiment: ETFs were reported as net sellers of GE shares, while commentary also notes the stock’s premium valuation, leaving less room for disappointment in execution or growth. ETFs are net sellers of General Electric

Hedge Funds Weigh In On GE Aerospace

A number of institutional investors have recently modified their holdings of the stock. GK Wealth Management LLC acquired a new position in GE Aerospace in the third quarter valued at about $25,000. Paladin Partners LLC acquired a new position in shares of GE Aerospace during the 2nd quarter worth about $38,000. Parvin Asset Management LLC acquired a new position in shares of GE Aerospace during the 2nd quarter worth about $41,000. Clark Wealth Partners raised its position in shares of GE Aerospace by 70.1% in the 3rd quarter. Clark Wealth Partners now owns 114 shares of the company’s stock valued at $36,000 after acquiring an additional 47 shares during the period. Finally, Markowski Investments acquired a new stake in shares of GE Aerospace in the 2nd quarter valued at approximately $46,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

About GE Aerospace

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.