568,633 GE Aerospace $GE Shares Purchased by Fisher Asset Management LLC

Key Points

• Fisher Asset Management increased its GE Aerospace stake by 4.9%, buying 568,633 shares in the third quarter. It held 12.16 million shares, worth about $3.80 billion, after the purchase.
• GE Aerospace reported quarterly earnings of $2.25 per share, beating the $2.01 analyst consensus; revenue rose 24.7% year over year to $13.29 billion, also above expectations.
• Analysts give the stock a consensus “Moderate Buy” rating, with an average price target of $373.45. Separately, a company vice president sold 14,796 shares.

Fisher Asset Management LLC raised its stake in GE Aerospace (NYSE:GE - Free Report) by 4.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,156,680 shares of the company's stock after purchasing an additional 568,633 shares during the period. GE Aerospace accounts for about 1.1% of Fisher Asset Management LLC's holdings, making the stock its 28th biggest position. Fisher Asset Management LLC owned 1.18% of GE Aerospace worth $3,796,410,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Burkett Financial Services LLC boosted its holdings in shares of GE Aerospace by 28.9% in the 2nd quarter. Burkett Financial Services LLC now owns 125 shares of the company's stock valued at $47,000 after buying an additional 28 shares in the last quarter. BOK Financial Private Wealth Inc. raised its stake in GE Aerospace by 3.2% during the 2nd quarter. BOK Financial Private Wealth Inc. now owns 960 shares of the company's stock worth $359,000 after acquiring an additional 30 shares in the last quarter. Gradient Investments LLC lifted its position in GE Aerospace by 4.4% in the second quarter. Gradient Investments LLC now owns 765 shares of the company's stock valued at $286,000 after acquiring an additional 32 shares during the last quarter. Kinloch Capital LLC lifted its position in GE Aerospace by 3.1% in the second quarter. Kinloch Capital LLC now owns 1,079 shares of the company's stock valued at $403,000 after acquiring an additional 32 shares during the last quarter. Finally, United Community Bank lifted its position in GE Aerospace by 10.1% in the second quarter. United Community Bank now owns 361 shares of the company's stock valued at $135,000 after acquiring an additional 33 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

Insider Buying and Selling

In other GE Aerospace news, VP Robert Giglietti sold 14,796 shares of the stock in a transaction that occurred on 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 completion of the sale, the vice president directly owned 20,201 shares of the company's stock, valued at approximately $6,717,640.54. This trade represents a 42.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

GE Aerospace Trading Down 3.6%

Shares of GE Aerospace stock opened at $330.56 on Friday. 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 company has a market capitalization of $341.58 billion, a P/E ratio of 38.13, a PEG ratio of 2.33 and a beta of 1.43. GE Aerospace has a 1 year low of $268.91 and a 1 year high of $388.84. The company's fifty day moving average is $314.84 and its two-hundred day moving average is $323.85.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Tuesday, October 20th. The company reported $2.25 EPS for the quarter, beating 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 business had revenue of $13.29 billion during the quarter, compared to analysts' expectations of $12.88 billion. During the same period in the prior year, the company earned $1.66 earnings per share. The business's revenue was up 24.7% compared to the same quarter last year. Analysts forecast that GE Aerospace will post 8.16 earnings per share for the current year.

GE Aerospace Announces Dividend

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

Key GE Aerospace News

These are some of the GE news items that stood out recently:

• Positive Sentiment: Commentary points to robust engine demand, defense contracts and higher earnings estimates, while GE is trading above its 50-day and 200-day moving averages. These factors may support the growth outlook, though the article does not report a new contract or forecast change. Article
• Positive Sentiment: The State Street Industrial Select Sector SPDR (XLI) added GE to its holdings, a modest potential source of fund demand. The report does not specify how much GE stock the fund purchased. Article
• Neutral Sentiment: Doncasters acquired a 50% stake in Montana Precision Products, becoming a 50/50 joint-venture partner with Unison Industries, a GE Aerospace company. MPP supplies components for GE engine platforms, so the ownership change could affect sourcing and production coordination; the reports disclose no financial terms or immediate operational impact. Article

Wall Street Analyst Weigh In

GE has been the subject of several research analyst reports. Jefferies Financial Group restated a "buy" rating and issued a $425.00 price objective on shares of GE Aerospace in a research note on Sunday, October 25th. Royal Bank Of Canada set a $376.00 target price on GE Aerospace in a research report on Friday, October 23rd. Weiss Ratings reissued a "buy (b)" rating on shares of GE Aerospace in a research report on Thursday, October 15th. Deutsche Bank restated a "buy" rating and set a $378.00 price target on shares of GE Aerospace in a research note on Wednesday, October 21st. Finally, Sanford C. Bernstein set a $376.00 price target on GE Aerospace in a research report on Friday, October 23rd. 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's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $373.45.

GE Aerospace Profile

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.

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