GE Aerospace $GE Shares Sold by Avestar Capital LLC

Avestar Capital LLC lessened its holdings in GE Aerospace (NYSE:GE) by 24.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,215 shares of the company’s stock after selling 2,333 shares during the period. Avestar Capital LLC’s holdings in GE Aerospace were worth $2,253,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GE. Amundi raised its stake in shares of GE Aerospace by 135.2% in the first quarter. Amundi now owns 6,119,975 shares of the company’s stock worth $1,736,665,000 after purchasing an additional 3,518,278 shares during the last quarter. Jupiter Topco LLC purchased a new position in GE Aerospace during the 2nd quarter worth $1,283,858,000. Wellington Management Group LLP grew its stake 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 worth $2,540,592,000 after acquiring an additional 3,352,432 shares in the last quarter. Jennison Associates LLC grew its stake in shares of GE Aerospace by 37.7% in 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. Finally, State Street Corp raised its holdings in shares of 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 purchasing an additional 1,160,584 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

GE Aerospace Trading Down 3.7%

Shares of GE opened at $301.58 on Friday. The business’s 50-day moving average price is $317.37 and its 200-day moving average price is $323.12. The company has a quick ratio of 0.68, a current ratio of 0.98 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. The stock has a market cap of $311.64 billion, a PE ratio of 40.66, a P/E/G ratio of 2.13 and a beta of 1.38.

GE Aerospace (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 20th. The company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.01 by $0.24. The firm had revenue of $13.29 billion during 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%. The business’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same period last year, the firm earned $1.66 EPS. On average, equities analysts forecast that GE Aerospace will post 8.16 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Monday, October 5th were given a $0.47 dividend. 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 presently 21.68%.

Trending Headlines about GE Aerospace

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

• Positive Sentiment: GE approved NYCO’s French turbine oil for Boeing 787 GEnx-1B engines following Air France trials. The approval could support engine reliability and broaden GE’s aftermarket and maintenance opportunities. GE approves French turbine oil for Boeing 787 after Air France trials
• Positive Sentiment: A next-generation aircraft test flight over GE Aerospace’s Niskayuna, New York, research center highlights the company’s involvement in future aircraft and propulsion technologies. While not an immediate earnings catalyst, the activity reinforces GE’s long-term innovation pipeline. Future generation of planes test flight
• Positive Sentiment: GE’s engine and services businesses continue to benefit from commercial aviation demand, with analysts still recognizing the strength of its aftermarket franchise despite more cautious expectations. Is GE Aerospace Stock Worth More Than Its Competitors?

Wall Street Analysts Forecast Growth

GE has been the topic of several analyst reports. The Goldman Sachs Group restated a “buy” rating and set a $410.00 price target on shares of GE Aerospace in a report on Monday, July 20th. Morgan Stanley reiterated an “overweight” rating and set a $375.00 price target (down from $400.00) on shares of GE Aerospace in a report on Wednesday, October 21st. 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. BNP Paribas Exane reduced their price objective on GE Aerospace from $305.00 to $280.00 and set an “underperform” rating for the company in a research note on Wednesday, October 21st. Finally, Sanford C. Bernstein set a $376.00 target price on GE Aerospace in a research note on Friday, October 23rd. Sixteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $373.45.

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.