GE Aerospace $GE Holdings Trimmed by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems reduced its GE Aerospace stake by 5.6% in the third quarter, selling 12,080 shares and retaining 204,500 shares valued at approximately $63.9 million. Institutional investors collectively own 74.77% of the company.
• GE Aerospace reported quarterly EPS of $2.25, beating estimates by $0.24, while revenue reached $13.29 billion and rose 24.7% year over year.
• The stock opened at $301.58, down 3.7%, while analysts maintained a “Moderate Buy” consensus with an average price target of $373.45. The company also declared a quarterly dividend of $0.47 per share, representing a 0.6% yield.

VIRGINIA RETIREMENT SYSTEMS ET Al trimmed its position in GE Aerospace (NYSE:GE - Free Report) by 5.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 204,500 shares of the company's stock after selling 12,080 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in GE Aerospace were worth $63,863,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GE. GK Wealth Management LLC purchased a new position in shares of GE Aerospace in the 3rd quarter worth approximately $25,000. Clark Wealth Partners increased its position in shares of GE Aerospace by 70.1% during the third quarter. Clark Wealth Partners now owns 114 shares of the company's stock valued at $36,000 after acquiring an additional 47 shares during the last quarter. Paladin Partners LLC purchased a new stake in shares of GE Aerospace during the second quarter valued at approximately $38,000. Parvin Asset Management LLC bought a new stake in GE Aerospace during the second quarter worth $41,000. Finally, Markowski Investments bought a new stake in GE Aerospace during the second quarter worth $46,000. 74.77% of the stock is owned by institutional investors.

GE Aerospace Stock Down 3.7%

Shares of NYSE GE opened at $301.58 on Friday. GE Aerospace has a one year low of $268.91 and a one year high of $388.84. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.98 and a quick ratio of 0.68. The business's fifty day moving average price is $317.37 and its 200-day moving average price is $323.12. The stock has a market capitalization of $311.64 billion, a PE ratio of 34.78, a P/E/G ratio of 2.13 and a beta of 1.38.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.24. The company 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 firm's revenue for the quarter was up 24.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.66 EPS. On average, equities research analysts anticipate that GE Aerospace will post 8.16 EPS for the current 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 given a $0.47 dividend. The ex-dividend date of this dividend was Monday, October 5th. This represents a $1.88 annualized dividend and a dividend yield of 0.6%. GE Aerospace's payout ratio is 21.68%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GE shares. Melius Research set a $350.00 price objective on GE Aerospace and gave the stock a "hold" rating in a research report on Monday, September 14th. Vertical Research reaffirmed a "buy" rating and set a $400.00 target price on shares of GE Aerospace in a research report on Tuesday, October 20th. Guggenheim set a $380.00 target price on GE Aerospace in a research note on Wednesday, October 21st. The Goldman Sachs Group reissued a "buy" rating and issued a $410.00 price target on shares of GE Aerospace in a report on Monday, July 20th. Finally, JPMorgan Chase & Co. reduced their price target on shares of GE Aerospace from $400.00 to $375.00 and set an "overweight" rating for the company in a research report on Wednesday, October 21st. Sixteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $373.45.

GE Aerospace News Roundup

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

• Positive Sentiment: GE approved NYCO’s French turbine oil for Boeing 787 GEnx-1B engines following Air France trials. The approval could support engine reliability and broaden GE’s aftermarket and maintenance opportunities. GE approves French turbine oil for Boeing 787 after Air France trials
• Positive Sentiment: A next-generation aircraft test flight over GE Aerospace’s Niskayuna, New York, research center highlights the company’s involvement in future aircraft and propulsion technologies. While not an immediate earnings catalyst, the activity reinforces GE’s long-term innovation pipeline. Future generation of planes test flight
• Positive Sentiment: GE’s engine and services businesses continue to benefit from commercial aviation demand, with analysts still recognizing the strength of its aftermarket franchise despite more cautious expectations. Is GE Aerospace Stock Worth More Than Its Competitors?

GE Aerospace Company 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.

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