28,688 Shares of GE Aerospace $GE Bought by CenterBook Partners LP

Key Points

• CenterBook Partners initiated a GE Aerospace position, buying 28,688 shares worth approximately $8.96 million in the third quarter. Institutional investors collectively own 74.77% of the stock.
• Analyst sentiment is broadly positive: 16 analysts rate GE a Buy, three a Hold and one a Sell, with an average price target of $373.45.
• GE Aerospace beat quarterly earnings and revenue estimates, reporting EPS of $2.25 and revenue of $13.29 billion; revenue rose 24.7% year over year. Separately, Vice President Robert Giglietti sold 14,796 shares, reducing his stake by about 42%.

CenterBook Partners LP bought a new stake in shares of GE Aerospace (NYSE:GE - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 28,688 shares of the company's stock, valued at approximately $8,959,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Asset One Wealth Management LLC raised its holdings in shares of GE Aerospace by 25.9% during the third quarter. Asset One Wealth Management LLC now owns 754 shares of the company's stock valued at $235,000 after purchasing an additional 155 shares during the period. International Assets Investment Management LLC grew its stake in GE Aerospace by 1.1% in the third quarter. International Assets Investment Management LLC now owns 17,168 shares of the company's stock valued at $5,363,000 after acquiring an additional 193 shares during the period. Heritage Family Offices LLP increased its holdings in shares of GE Aerospace by 8.5% during the third quarter. Heritage Family Offices LLP now owns 1,661 shares of the company's stock valued at $519,000 after acquiring an additional 130 shares in the last quarter. Calamos Wealth Management LLC raised its position in shares of GE Aerospace by 4.5% during the third quarter. Calamos Wealth Management LLC now owns 11,248 shares of the company's stock worth $3,513,000 after purchasing an additional 483 shares during the period. Finally, Calamos Advisors LLC grew its position in GE Aerospace by 1.5% in the 3rd quarter. Calamos Advisors LLC now owns 281,436 shares of the company's stock valued at $87,890,000 after purchasing an additional 4,130 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on GE shares. Jefferies Financial Group reissued a "buy" rating and set a $425.00 target price on shares of GE Aerospace in a research report on Sunday, October 25th. 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. BNP Paribas Exane cut their target price on GE Aerospace from $305.00 to $280.00 and set an "underperform" rating on the stock in a research report on Wednesday, October 21st. Royal Bank Of Canada set a $376.00 price target on GE Aerospace in a research report on Friday, October 23rd. Finally, Vertical Research restated a "buy" rating and set a $400.00 price objective on shares of GE Aerospace in a research note on Tuesday, October 20th. Sixteen equities research 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $373.45.

Insider Buying and Selling at GE Aerospace

In other news, VP Robert Giglietti sold 14,796 shares of the business's stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $332.54, for a total value of $4,920,261.84. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.19% of the stock is owned by insiders.

GE Aerospace Stock Performance

GE traded up $8.81 during trading on Friday, hitting $323.54. 5,306,018 shares of the company traded hands, compared to its average volume of 5,237,439. GE Aerospace has a one year low of $268.91 and a one year high of $388.84. The stock's fifty day moving average is $314.70 and its 200 day moving average is $323.12. The firm has a market cap of $334.33 billion, a P/E ratio of 37.32, a price-to-earnings-growth ratio of 2.15 and a beta of 1.43. 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 - Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The company reported $2.25 EPS for the quarter, topping analysts' consensus estimates of $2.01 by $0.24. GE Aerospace had a net margin of 17.31% and a return on equity of 44.43%. The company had revenue of $13.29 billion for the quarter, compared to analysts' expectations of $12.88 billion. During the same quarter in the previous year, the firm posted $1.66 EPS. GE Aerospace's revenue was up 24.7% on a year-over-year basis. As a group, equities analysts predict that GE Aerospace will post 8.16 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Monday, October 5th were paid 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 payout ratio is currently 21.68%.

GE Aerospace News Summary

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

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.

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

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