GE Aerospace $GE Shares Acquired by Alta Advisers Ltd

Key Points

• Alta Advisers increased its GE Aerospace stake by 87.8% in the third quarter, adding 3,492 shares to hold 7,471 shares valued at about $2.33 million.
• GE Aerospace beat quarterly earnings and revenue expectations: EPS was $2.25 versus $2.01 expected, while revenue rose 24.7% year over year to $13.29 billion.
• Long-term engine-maintenance demand is supported by delayed aircraft deliveries and a reported $170 billion services backlog, though newly updated inspection guidance for certain GEnx-1B engines could bring near-term operational or cost pressures.

Alta Advisers Ltd boosted its holdings in GE Aerospace (NYSE:GE - Free Report) by 87.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,471 shares of the company's stock after purchasing an additional 3,492 shares during the quarter. Alta Advisers Ltd's holdings in GE Aerospace were worth $2,333,000 at the end of the most recent quarter.

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

Key GE Aerospace News

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

• Positive Sentiment: Delayed aircraft deliveries are keeping older planes in service longer, supporting demand for engine maintenance, replacement parts and shop visits. GE Aerospace’s commercial services backlog is reported at about $170 billion, making this a potential longer-term tailwind. GE Aerospace stock faces Boeing delays as maintenance demand rises
• Positive Sentiment: GE Aerospace is set to supply gas-turbine engines for two U.S. Navy destroyers, adding defense-related work and potential follow-on service revenue. GE Aerospace to Supply Engines for Two US Navy Flight III Destroyers
• Positive Sentiment: Technical coverage noted GE recently moved above its 200-day moving average, a signal some investors view as supportive of the longer-term trend. GE Aerospace recently broke out above the 200-day moving average
• Neutral Sentiment: CEO Larry Culp said U.S. midterm election results do not have much impact on GE Aerospace’s business, suggesting limited direct exposure to the political outcome. GE Aerospace CEO Larry Culp on midterm results
• Negative Sentiment: GE updated inspection guidance for certain GEnx-1B engines after a study identified early turbine-blade cracks. Additional inspections could complicate airline schedules and raise near-term service demands or costs; reports linked the issue to recent share weakness. GE updates engine checks after study flags early blade cracks
• Negative Sentiment: A GE Aerospace vice president sold 14,796 shares, reducing his reported stake by about 42%. Insider sales can have varied reasons, but the transaction may add to near-term caution. GE Aerospace insider transaction report
• Negative Sentiment: ETFs were reported as net sellers of GE shares, while commentary also notes the stock’s premium valuation, leaving less room for disappointment in execution or growth. ETFs are net sellers of General Electric

GE Aerospace Price Performance

Shares of GE Aerospace stock opened at $314.25 on Friday. 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 $315.07 and its 200 day moving average is $323.07. The stock has a market cap of $324.73 billion, a P/E ratio of 36.25, a P/E/G ratio of 2.24 and a beta of 1.43. 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 released its quarterly earnings results on Tuesday, October 20th. The company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.24. GE Aerospace had a return on equity of 44.43% and a net margin of 17.31%. The business had revenue of $13.29 billion during the quarter, compared to analyst estimates of $12.88 billion. During the same quarter in the previous year, the company posted $1.66 earnings per share. GE Aerospace's revenue for the quarter was up 24.7% on a year-over-year basis. Sell-side analysts anticipate that GE Aerospace will post 8.16 earnings per share for the current year.

GE Aerospace Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GE. Royal Bank Of Canada set a $376.00 target price on shares of GE Aerospace in a research note on Friday, October 23rd. Morgan Stanley reissued an "overweight" rating and set a $375.00 price target (down from $400.00) on shares of GE Aerospace in a research report on Wednesday, October 21st. BNP Paribas Exane reduced their price target on shares of GE Aerospace from $305.00 to $280.00 and set an "underperform" rating for the company in a research report on Wednesday, October 21st. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $378.00 price objective on shares of GE Aerospace in a report on Wednesday, October 21st. Finally, Guggenheim set a $380.00 price objective on GE Aerospace in a research report on Wednesday, October 21st. Sixteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, GE Aerospace currently has an average rating of "Moderate Buy" and a consensus price target of $373.45.

Insider Transactions at GE Aerospace

In related news, VP Robert Giglietti sold 14,796 shares of the 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 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 represents a 42.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.19% of the company's stock.

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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