GE Aerospace $GE Shares Acquired by Oppenheimer & Co. Inc.

Key Points

• Oppenheimer & Co. increased its GE Aerospace stake by 10.5% in the third quarter, bringing its holdings to 61,588 shares valued at approximately $19.2 million. Institutional investors collectively own 74.77% of the company.
• Analysts remain broadly positive, with 16 Buy ratings, three Holds and one Sell; GE Aerospace has a consensus rating of “Moderate Buy” and an average price target of $373.45.
• GE Aerospace exceeded quarterly expectations, reporting $2.25 EPS versus a $2.01 estimate and $13.29 billion in revenue, up 24.7% year over year. The company also paid a quarterly dividend of $0.47 per share, equivalent to a 0.7% annualized yield.

Oppenheimer & Co. Inc. lifted its holdings in GE Aerospace (NYSE:GE - Free Report) by 10.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,588 shares of the company's stock after purchasing an additional 5,866 shares during the period. Oppenheimer & Co. Inc.'s holdings in GE Aerospace were worth $19,233,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. GK Wealth Management LLC acquired a new position in GE Aerospace during the 3rd quarter worth $25,000. Clark Wealth Partners increased its holdings in GE Aerospace by 70.1% during the 3rd quarter. Clark Wealth Partners now owns 114 shares of the company's stock worth $36,000 after purchasing an additional 47 shares during the period. Paladin Partners LLC purchased a new stake in GE Aerospace during the 2nd quarter worth about $38,000. Parvin Asset Management LLC acquired a new stake in GE Aerospace in the 2nd quarter valued at about $41,000. Finally, Markowski Investments acquired a new stake in GE Aerospace in the 2nd quarter valued at about $46,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GE has been the subject of several recent research reports. Wells Fargo & Company decreased their price objective on GE Aerospace from $390.00 to $380.00 and set an "overweight" rating for the company in a research note on Wednesday, September 30th. Sanford C. Bernstein set a $376.00 target price on shares of GE Aerospace in a research note on Friday. HC Wainwright set a $375.00 price target on shares of GE Aerospace in a research note on Wednesday, October 21st. Weiss Ratings reiterated a "buy (b)" rating on shares of GE Aerospace in a research note on Thursday, October 15th. Finally, Guggenheim set a $380.00 price target on shares of GE Aerospace in a report on Wednesday, October 21st. Sixteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, GE Aerospace has an average rating of "Moderate Buy" and a consensus price target of $373.45.

GE Aerospace Stock Performance

NYSE GE opened at $288.70 on Tuesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.98 and a quick ratio of 0.68. GE Aerospace has a 1 year low of $268.91 and a 1 year high of $388.84. The company has a market capitalization of $298.33 billion, a PE ratio of 33.30, a P/E/G ratio of 1.95 and a beta of 1.38. The company has a fifty day moving average of $323.58 and a two-hundred day moving average of $323.67.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings data 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 return on equity of 44.43% and a net margin of 17.31%. The company had revenue of $13.29 billion for the quarter, compared to analyst estimates of $12.88 billion. During the same quarter last year, the company posted $1.66 earnings per share. The business's quarterly revenue was up 24.7% compared to the same quarter last year. As a group, analysts expect that GE Aerospace will post 8.15 earnings per share for the current year.

GE Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 26th. Investors 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 dividend on an annualized basis and a dividend yield of 0.7%. GE Aerospace's dividend payout ratio is 21.68%.

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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