GE Aerospace $GE Stock: Provenance Wealth Advisors LLC Raises Stake

Provenance Wealth Advisors LLC grew its holdings in GE Aerospace (NYSE:GE) by 322.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,769 shares of the company’s stock after purchasing an additional 2,876 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in GE Aerospace were worth $1,177,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Lyell Wealth Management LP lifted its position in GE Aerospace by 1.9% during the 3rd quarter. Lyell Wealth Management LP now owns 1,803 shares of the company’s stock worth $563,000 after buying an additional 34 shares in the last quarter. Associated Banc Corp bought a new stake in GE Aerospace during the 3rd quarter worth about $1,190,000. Putney Financial Group LLC acquired a new stake in GE Aerospace in the 3rd quarter valued at about $77,000. Integrity Alliance LLC. increased its position in GE Aerospace by 2.1% in the 3rd quarter. Integrity Alliance LLC. now owns 6,774 shares of the company’s stock valued at $2,116,000 after acquiring an additional 140 shares in the last quarter. Finally, Integrity Advisory Solutions LLC increased its position in GE Aerospace by 15.4% in the 3rd quarter. Integrity Advisory Solutions LLC now owns 1,430 shares of the company’s stock valued at $447,000 after acquiring an additional 191 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

GE Aerospace Trading Up 2.9%

Shares of GE opened at $329.91 on Thursday. The stock’s fifty day simple moving average is $315.88 and its 200-day simple moving average is $323.12. The firm has a market capitalization of $340.91 billion, a PE ratio of 38.05, a price-to-earnings-growth ratio of 2.18 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 quick ratio of 0.68, a current ratio of 0.98 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 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.24. The firm had revenue of $13.29 billion during the quarter, compared to analyst estimates of $12.88 billion. GE Aerospace had a return on equity of 44.43% and a net margin of 17.31%. The company’s revenue was up 24.7% on a year-over-year basis. During the same period last year, the company earned $1.66 earnings per share. As a group, research analysts predict that GE Aerospace will post 8.16 earnings per share for the current year.

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Monday, October 5th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend 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%.

Analyst Upgrades and Downgrades

GE has been the topic of a number of research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Aerospace in a research report on Thursday, October 15th. Jefferies Financial Group reissued a “buy” rating and set a $425.00 price target on shares of GE Aerospace in a research note on Sunday, October 25th. Vertical Research reissued a “buy” rating and issued a $400.00 price target on shares of GE Aerospace in a report on Tuesday, October 20th. Melius Research set a $350.00 price objective on shares of GE Aerospace and gave the stock a “hold” rating in a research report on Monday, September 14th. Finally, Morgan Stanley restated an “overweight” rating and issued a $375.00 price objective (down from $400.00) on shares of GE Aerospace 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’s stock. According to data from MarketBeat.com, GE Aerospace currently has an average rating of “Moderate Buy” and a consensus price target of $373.45.

GE Aerospace News Roundup

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

• Positive Sentiment: GE Aerospace will supply LM2500 marine gas turbines for two U.S. Navy Flight III destroyers. The reports say the ships will use eight GE gas turbine engines in total, adding defense business and potential follow-on service work. GE Aerospace to Supply Engines for Two US Navy Flight III Destroyers
• Positive Sentiment: Commercial engine demand remains a tailwind: GE’s commercial segment is seeing strong orders and services activity for LEAP, GEnx and GE9X engines. CFM International, GE’s joint venture with Safran, also secured large LEAP engine agreements, including orders tied to IndiGo and Turkish Airlines fleets. GE’s Commercial Engines Segment Gains Momentum: Can It Sustain?
• Neutral Sentiment: Call-option trading in GE was unusually active, with volume reported at 161% above its average. This may signal bullish positioning, but options activity is speculative and does not by itself confirm improved fundamentals. GE Aerospace options activity
• Negative Sentiment: GE Aerospace revised inspection guidance for certain GEnx-1B engines after a study reported premature cracks in some turbine blades. Additional checks could create maintenance and scheduling burdens for airlines and raise near-term uncertainty, although the reports do not quantify a financial impact. General Electric (GE) Updates Engine Checks After Study Flags Early Blade Cracks

GE Aerospace Profile

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.