GE Aerospace $GE Stock Sold by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC cut its stake in shares of GE Aerospace (NYSE:GE) by 7.6% during the third quarter, HoldingsChannel reports. The firm owned 47,142 shares of the company’s stock after selling 3,865 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in GE Aerospace were worth $14,722,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. State Street Corp boosted its holdings in shares of GE Aerospace by 2.6% in the 2nd 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 period. Jennison Associates LLC raised its holdings in GE Aerospace by 37.7% during the 1st quarter. Jennison Associates LLC now owns 11,026,006 shares of the company’s stock valued at $3,128,850,000 after buying an additional 3,017,937 shares during the period. Bank of America Corp DE raised its holdings in GE Aerospace by 10.0% during the 1st quarter. Bank of America Corp DE now owns 7,664,679 shares of the company’s stock valued at $2,175,006,000 after buying an additional 695,731 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in 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 buying an additional 427,820 shares during the period. Finally, Wellington Management Group LLP lifted its position in GE Aerospace by 97.3% in the second quarter. Wellington Management Group LLP now owns 6,797,935 shares of the company’s stock worth $2,540,592,000 after buying an additional 3,352,432 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank Of Canada set a $376.00 price objective on shares of GE Aerospace in a research note on Friday, October 23rd. UBS Group reissued a “buy” rating and issued a $380.00 target price (up from $377.00) on shares of GE Aerospace in a research note on Wednesday, October 21st. Sanford C. Bernstein set a $376.00 target price on shares of GE Aerospace in a report on Friday, October 23rd. JPMorgan Chase & Co. lowered their target price on shares of GE Aerospace from $400.00 to $375.00 and set an “overweight” rating for the company in a report on Wednesday, October 21st. Finally, BNP Paribas Exane dropped their price target on shares of GE Aerospace from $305.00 to $280.00 and set an “underperform” rating for the company in a research note on Wednesday, October 21st. Sixteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $373.45.

More GE Aerospace News

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 Trading Up 2.9%

Shares of NYSE GE opened at $329.91 on Thursday. 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 business’s 50 day moving average price is $315.88 and its 200-day moving average price is $323.12. GE Aerospace has a fifty-two week low of $268.91 and a fifty-two week high of $388.84. The company has a market cap of $340.91 billion, a price-to-earnings ratio of 38.05, a PEG ratio of 2.18 and a beta of 1.43.

GE Aerospace (NYSE:GE) last posted its quarterly earnings data 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. The company had revenue of $13.29 billion during the quarter, compared to analysts’ expectations of $12.88 billion. GE Aerospace had a return on equity of 44.43% and a net margin of 17.31%. GE Aerospace’s revenue was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.66 EPS. On average, sell-side analysts expect that GE Aerospace will post 8.16 earnings per share for the current year.

GE Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Monday, October 5th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, October 5th. GE Aerospace’s payout ratio is currently 21.68%.

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.