GE Aerospace $GE Position Decreased by Cornerstone Advisors LLC

Cornerstone Advisors LLC lowered its position in GE Aerospace (NYSE:GE) by 9.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 80,085 shares of the company’s stock after selling 8,213 shares during the period. GE Aerospace makes up about 0.8% of Cornerstone Advisors LLC’s portfolio, making the stock its 23rd largest position. Cornerstone Advisors LLC’s holdings in GE Aerospace were worth $25,010,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp grew its holdings in GE Aerospace by 2.6% in the second quarter. State Street Corp now owns 46,497,628 shares of the company’s stock worth $17,377,559,000 after purchasing an additional 1,160,584 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of GE Aerospace by 4.9% during the third quarter. Fisher Asset Management LLC now owns 12,156,680 shares of the company’s stock worth $3,796,410,000 after purchasing an additional 568,633 shares in the last quarter. Jennison Associates LLC increased its position in shares of GE Aerospace by 37.7% during the first quarter. Jennison Associates LLC now owns 11,026,006 shares of the company’s stock worth $3,128,850,000 after purchasing an additional 3,017,937 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of GE Aerospace by 6.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,251,603 shares of the company’s stock valued at $2,710,142,000 after purchasing an additional 427,820 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of GE Aerospace by 97.3% during the 2nd quarter. Wellington Management Group LLP now owns 6,797,935 shares of the company’s stock valued at $2,540,592,000 after purchasing an additional 3,352,432 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GE shares. Vertical Research restated a “buy” rating and set a $400.00 target price on shares of GE Aerospace in a research note on Tuesday, October 20th. Royal Bank Of Canada set a $376.00 target price on GE Aerospace in a research report on Friday, October 23rd. 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. The Goldman Sachs Group reissued a “buy” rating and issued a $410.00 price target on shares of GE Aerospace in a report on Monday, July 20th. Finally, 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. Sixteen equities 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 data from MarketBeat.com, GE Aerospace has an average rating of “Moderate Buy” and an average target price of $373.45.

Insiders Place Their Bets

In other GE Aerospace news, VP Robert Giglietti sold 14,796 shares of the business’s stock in a transaction dated 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 sale, the vice president owned 20,201 shares in the company, valued at approximately $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 can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

GE Aerospace Trading Up 0.2%

NYSE GE opened at $331.48 on Friday. The company has a fifty day simple moving average of $314.81 and a two-hundred day simple moving average of $324.02. The stock has a market cap of $342.53 billion, a P/E ratio of 38.23, a P/E/G ratio of 2.25 and a beta of 1.43. GE Aerospace has a 12-month low of $268.91 and a 12-month high of $388.84. 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 (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.24. The firm had revenue of $13.29 billion for the quarter, compared to analyst estimates 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 in the previous year, the company earned $1.66 earnings per share. On average, analysts forecast that GE Aerospace will post 8.16 earnings per share for the current year.

GE Aerospace Announces Dividend

The company 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 dividend on an annualized basis and a yield of 0.6%. GE Aerospace’s payout ratio is currently 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.