3,791 GE Aerospace $GE Shares Sold by Carnegie Lake Advisors LLC

Carnegie Lake Advisors LLC lessened its position in shares of GE Aerospace (NYSE:GE) by 75.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,248 shares of the company’s stock after selling 3,791 shares during the quarter. Carnegie Lake Advisors LLC’s holdings in GE Aerospace were worth $390,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

GE has been the subject of a number of research reports. Melius Research set a $350.00 price objective on GE Aerospace and gave the stock a “hold” rating in a report on Monday, September 14th. Morgan Stanley restated an “overweight” rating and issued a $375.00 target price (down from $400.00) on shares of GE Aerospace in a research note on Wednesday, October 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Aerospace in a research report on Thursday, October 15th. Royal Bank Of Canada set a $376.00 price target on GE Aerospace in a research report on Friday, October 23rd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $425.00 price target on shares of GE Aerospace in a research note on Sunday, October 25th. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $373.45.

Insider Buying and Selling at GE Aerospace

In other GE Aerospace news, VP Robert Giglietti sold 14,796 shares of the business’s 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by company 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 Price Performance

Shares of NYSE GE opened at $323.54 on Monday. The stock has a market capitalization of $334.33 billion, a price-to-earnings ratio of 37.32, a PEG ratio of 2.20 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. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.98 and a quick ratio of 0.68. GE Aerospace has a fifty-two week low of $268.91 and a fifty-two week high of $388.84.

GE Aerospace (NYSE:GE) last released its earnings results on Tuesday, October 20th. The company reported $2.25 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $12.88 billion. During the same quarter in the previous year, the business earned $1.66 earnings per share. GE Aerospace’s quarterly revenue was up 24.7% on a year-over-year basis. As a group, sell-side analysts predict that GE Aerospace will post 8.16 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 26th. Shareholders of record on Monday, October 5th were given 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 dividend yield of 0.6%. GE Aerospace’s payout ratio is 21.68%.

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.

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