GE Aerospace $GE Position Raised by Calamos Advisors LLC

Key Points

• Calamos Advisors increased its GE Aerospace position by 1.5% in the third quarter, adding 4,130 shares to bring its holdings to 281,436 shares, valued at about $87.9 million. Institutional investors own 74.77% of the stock.
• GE Aerospace reported quarterly EPS of $2.25, beating the $2.01 consensus, while revenue rose 24.7% year over year to $13.29 billion.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $373.45; however, coverage noted the stock’s valuation may already reflect much of its growth potential.

Calamos Advisors LLC grew its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 1.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 281,436 shares of the company's stock after purchasing an additional 4,130 shares during the period. Calamos Advisors LLC's holdings in GE Aerospace were worth $87,890,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp boosted its holdings in GE Aerospace by 2.6% in the second quarter. State Street Corp now owns 46,497,628 shares of the company's stock worth $17,377,559,000 after acquiring an additional 1,160,584 shares in the last quarter. Jennison Associates LLC raised its position in shares of GE Aerospace by 37.7% in the 1st quarter. Jennison Associates LLC now owns 11,026,006 shares of the company's stock worth $3,128,850,000 after purchasing an additional 3,017,937 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of GE Aerospace by 6.3% in 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 worth $2,710,142,000 after purchasing an additional 427,820 shares during the last quarter. Wellington Management Group LLP boosted its stake in GE Aerospace by 97.3% in the 2nd quarter. Wellington Management Group LLP now owns 6,797,935 shares of the company's stock worth $2,540,592,000 after purchasing an additional 3,352,432 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in GE Aerospace by 10.0% in the 1st quarter. Bank of America Corp DE now owns 7,664,679 shares of the company's stock worth $2,175,006,000 after purchasing an additional 695,731 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

GE Aerospace Stock Performance

Shares of GE traded up $8.81 during mid-day trading on Friday, hitting $323.54. 5,306,018 shares of the company traded hands, compared to its average volume of 5,237,439. The stock has a market cap of $334.33 billion, a price-to-earnings ratio of 37.32, a P/E/G ratio of 2.15 and a beta of 1.43. The stock has a 50-day moving average price of $314.70 and a two-hundred day moving average price of $323.12. GE Aerospace has a 1 year low of $268.91 and a 1 year high of $388.84. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.68 and a current ratio of 0.98.

GE Aerospace (NYSE:GE - Get Free Report) last issued its earnings results on Tuesday, October 20th. The company reported $2.25 earnings per share (EPS) for the quarter, topping 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 company had revenue of $13.29 billion for the quarter, compared to analysts' expectations of $12.88 billion. During the same quarter last year, the company posted $1.66 earnings per share. The firm's quarterly revenue was up 24.7% on a year-over-year basis. Equities analysts anticipate that GE Aerospace will post 8.16 earnings per share for the current year.

GE Aerospace Dividend Announcement

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

Key GE Aerospace News

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

GE has been the subject of a number of analyst reports. TD Cowen restated a "buy" rating and set a $380.00 price objective (up from $330.00) on shares of GE Aerospace in a research note on Monday, July 13th. Vertical Research reiterated a "buy" rating and issued a $400.00 target price on shares of GE Aerospace in a research note on Tuesday, October 20th. Guggenheim set a $380.00 price target on shares of GE Aerospace in a report on Wednesday, October 21st. Weiss Ratings reissued a "buy (b)" rating on shares of GE Aerospace in a research report on Thursday, October 15th. Finally, Jefferies Financial Group restated a "buy" rating and issued a $425.00 price objective on shares of GE Aerospace in a report on Sunday, October 25th. Sixteen 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 stock. According to data from MarketBeat.com, GE Aerospace currently has a consensus rating of "Moderate Buy" and an average price target of $373.45.

Insider Buying and Selling

In related news, VP Robert Giglietti sold 14,796 shares of the firm's 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.19% of the company's stock.

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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