GE Aerospace $GE Shares Bought by Russell Investments Group Ltd.

Key Points

• Russell Investments increased its GE Aerospace stake by 12.1% in the third quarter, adding 103,201 shares to hold 953,536 shares worth about $298 million.
• GE Aerospace reported quarterly EPS of $2.25, beating estimates of $2.01, while revenue rose 24.7% year over year to $13.29 billion, also ahead of forecasts.
• Analysts give the stock a consensus “Moderate Buy” rating, with an average price target of $373.45; shares recently opened at $330.56.

Russell Investments Group Ltd. grew its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 12.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 953,536 shares of the company's stock after purchasing an additional 103,201 shares during the quarter. Russell Investments Group Ltd. owned 0.09% of GE Aerospace worth $297,971,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GE. State Street Corp lifted its position in GE Aerospace by 2.6% during the 2nd 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 grew its position in GE Aerospace by 37.7% in the first quarter. Jennison Associates LLC now owns 11,026,006 shares of the company's stock valued at $3,128,850,000 after acquiring an additional 3,017,937 shares in the last quarter. Bank of America Corp DE grew its position in GE Aerospace by 10.0% in the first quarter. Bank of America Corp DE now owns 7,664,679 shares of the company's stock valued at $2,175,006,000 after acquiring an additional 695,731 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in GE Aerospace by 6.3% in the second 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 acquiring an additional 427,820 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in GE Aerospace by 97.3% in the second quarter. Wellington Management Group LLP now owns 6,797,935 shares of the company's stock valued at $2,540,592,000 after acquiring an additional 3,352,432 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Price Performance

Shares of NYSE:GE opened at $330.56 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.96. GE Aerospace has a fifty-two week low of $268.91 and a fifty-two week high of $388.84. The firm has a 50-day simple moving average of $314.84 and a 200 day simple moving average of $323.85. The company has a market cap of $341.58 billion, a PE ratio of 38.13, a P/E/G ratio of 2.33 and a beta of 1.43.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results 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 return on equity of 44.43% and a net margin of 17.31%. The company had revenue of $13.29 billion during the quarter, compared to analyst estimates of $12.88 billion. During the same period in the prior year, the company earned $1.66 earnings per share. The business's revenue was up 24.7% compared to the same quarter last year. On average, sell-side analysts anticipate that GE Aerospace will post 8.16 EPS for the current year.

GE Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Monday, October 5th were issued 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 21.68%.

Insider Activity

In other GE Aerospace news, VP Robert Giglietti sold 14,796 shares of the stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $332.54, for a total transaction of $4,920,261.84. Following the completion of 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 SEC, which can be accessed through this hyperlink. 0.19% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on GE shares. Guggenheim set a $380.00 price objective on shares of GE Aerospace in a research note on Wednesday, October 21st. Weiss Ratings restated a "buy (b)" rating on shares of GE Aerospace in a research note on Thursday, October 15th. Wells Fargo & Company lowered their price target on shares of GE Aerospace from $390.00 to $380.00 and set an "overweight" rating for the company in a report on Wednesday, September 30th. Susquehanna lowered their price target on shares of GE Aerospace from $430.00 to $400.00 and set a "positive" rating for the company in a report on Wednesday, October 21st. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $425.00 price target on shares of GE Aerospace in a research note on Sunday, October 25th. Sixteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, GE Aerospace currently has a consensus rating of "Moderate Buy" and an average target price of $373.45.

Key GE Aerospace News

These are some of the GE news items that stood out recently:

• Positive Sentiment: Commentary points to robust engine demand, defense contracts and higher earnings estimates, while GE is trading above its 50-day and 200-day moving averages. These factors may support the growth outlook, though the article does not report a new contract or forecast change. Article
• Positive Sentiment: The State Street Industrial Select Sector SPDR (XLI) added GE to its holdings, a modest potential source of fund demand. The report does not specify how much GE stock the fund purchased. Article
• Neutral Sentiment: Doncasters acquired a 50% stake in Montana Precision Products, becoming a 50/50 joint-venture partner with Unison Industries, a GE Aerospace company. MPP supplies components for GE engine platforms, so the ownership change could affect sourcing and production coordination; the reports disclose no financial terms or immediate operational impact. Article

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.

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