5,876 GE Aerospace $GE Shares Bought by Alps Advisors Inc.

Key Points

• Alps Advisors increased its GE Aerospace stake by 50.7% in the third quarter, buying 5,876 shares and bringing its holdings to 17,469 shares, valued at about $5.46 million.
• Other institutional investors also raised or initiated positions; institutions and hedge funds collectively own 74.77% of GE shares.
• GE beat quarterly estimates, reporting EPS of $2.25 versus $2.01 expected and revenue up 24.7% year over year. Analysts give the stock a “Moderate Buy” consensus rating, with an average target of $373.45.

Alps Advisors Inc. lifted its position in shares of GE Aerospace (NYSE:GE - Free Report) by 50.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,469 shares of the company's stock after purchasing an additional 5,876 shares during the period. Alps Advisors Inc.'s holdings in GE Aerospace were worth $5,455,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GE. Susquehanna Fundamental Investments LLC grew its position in shares of GE Aerospace by 261.0% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 213,603 shares of the company's stock worth $79,830,000 after purchasing an additional 154,429 shares in the last quarter. Christensen King & Associates Investment Services Inc. bought a new stake in shares of GE Aerospace in the third quarter valued at approximately $4,934,000. HWG Holdings LP boosted its stake in shares of GE Aerospace by 54.7% in the third quarter. HWG Holdings LP now owns 15,640 shares of the company's stock valued at $4,884,000 after buying an additional 5,531 shares during the period. Clough Capital Partners L P boosted its stake in shares of GE Aerospace by 37.1% in the first quarter. Clough Capital Partners L P now owns 70,535 shares of the company's stock valued at $20,016,000 after buying an additional 19,105 shares during the period. Finally, GoalVest Advisory LLC grew its position in GE Aerospace by 330.1% during the third quarter. GoalVest Advisory LLC now owns 30,858 shares of the company's stock worth $9,637,000 after buying an additional 23,684 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting GE Aerospace

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

Analysts Set New Price Targets

A number of equities analysts have commented on GE shares. Royal Bank Of Canada set a $376.00 price objective on GE Aerospace in a research note on Friday, October 23rd. The Goldman Sachs Group reiterated a "buy" rating and set a $410.00 target price on shares of GE Aerospace in a research report on Monday, July 20th. Susquehanna reduced their target price on GE Aerospace from $430.00 to $400.00 and set a "positive" rating on the stock in a report on Wednesday, October 21st. JPMorgan Chase & Co. decreased their price target on GE Aerospace from $400.00 to $375.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 21st. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $375.00 price target (down from $400.00) on shares of GE Aerospace in a research note on Wednesday, October 21st. Sixteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, GE Aerospace has an average rating of "Moderate Buy" and a consensus target price of $373.45.

GE Aerospace Stock Performance

NYSE GE opened at $323.54 on Monday. The firm's 50 day simple moving average is $314.70 and its 200 day simple moving average is $323.12. The firm has a market capitalization of $334.33 billion, a price-to-earnings ratio of 37.32, a P/E/G ratio of 2.20 and a beta of 1.43. 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 has a 1 year low of $268.91 and a 1 year high of $388.84.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $2.25 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $12.88 billion. During the same period in the previous year, the business earned $1.66 earnings per share. The company's revenue was up 24.7% on a year-over-year basis. As a group, research analysts expect that GE Aerospace will post 8.16 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Monday, October 5th were paid a $0.47 dividend. The ex-dividend date was Monday, October 5th. This represents a $1.88 annualized dividend and a dividend yield of 0.6%. GE Aerospace's dividend payout ratio (DPR) is presently 21.68%.

Insider Activity

In other news, VP Robert Giglietti sold 14,796 shares of GE Aerospace stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $332.54, for a total value of $4,920,261.84. Following the transaction, the vice president owned 20,201 shares in the company, valued at approximately $6,717,640.54. This trade represents a 42.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.19% of the company's stock.

GE Aerospace Company 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.

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

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