GE Aerospace $GE Stake Increased by Calamos Advisors LLC

Calamos Advisors LLC boosted its holdings in GE Aerospace (NYSE:GE) by 1.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 281,436 shares of the company’s stock after purchasing an additional 4,130 shares during the quarter. Calamos Advisors LLC’s holdings in GE Aerospace were worth $87,890,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GK Wealth Management LLC purchased a new stake in shares of GE Aerospace in the third quarter worth about $25,000. Paladin Partners LLC purchased a new position in shares of GE Aerospace during the 2nd quarter worth about $38,000. Parvin Asset Management LLC bought a new position in shares of GE Aerospace during the second quarter valued at approximately $41,000. Clark Wealth Partners lifted its position in shares of GE Aerospace by 70.1% during the third quarter. Clark Wealth Partners now owns 114 shares of the company’s stock worth $36,000 after purchasing an additional 47 shares during the last quarter. Finally, Markowski Investments purchased a new stake in GE Aerospace in the 2nd quarter valued at about $46,000. 74.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at GE Aerospace

In related news, VP Robert Giglietti sold 14,796 shares of GE Aerospace 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 completion of the sale, the vice president owned 20,201 shares in the company, valued at approximately $6,717,640.54. This trade represents a 42.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.19% of the company’s stock.

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on GE. UBS Group restated a “buy” rating and set a $380.00 price target (up from $377.00) on shares of GE Aerospace in a research note on Wednesday, October 21st. Guggenheim set a $380.00 price objective on shares of GE Aerospace in a report on Wednesday, October 21st. Royal Bank Of Canada set a $376.00 price objective on shares of GE Aerospace in a research report on Friday, October 23rd. JPMorgan Chase & Co. dropped their target price on shares of GE Aerospace from $400.00 to $375.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 21st. Finally, TD Cowen reaffirmed a “buy” rating and set a $380.00 target price (up from $330.00) on shares of GE Aerospace in a report on Monday, July 13th. Sixteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $373.45.

GE Aerospace Price Performance

Shares of NYSE GE traded up $8.81 during mid-day trading on Friday, reaching $323.54. The company’s stock had a trading volume of 5,306,018 shares, compared to its average volume of 5,237,439. GE Aerospace has a 1-year low of $268.91 and a 1-year high of $388.84. 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 has a 50-day moving average of $314.70 and a two-hundred day moving average of $323.12. The stock has a market capitalization of $334.33 billion, a P/E ratio of 37.32, a P/E/G ratio of 2.15 and a beta of 1.43.

GE Aerospace (NYSE:GE) last issued 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. The company had revenue of $13.29 billion for the quarter, compared to the consensus estimate of $12.88 billion. GE Aerospace had a net margin of 17.31% and a return on equity of 44.43%. GE Aerospace’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.66 earnings per share. On average, equities research analysts anticipate that GE Aerospace will post 8.16 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

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

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