GE Aerospace $GE Shares Sold by Grandfield & Dodd LLC

Key Points

• Grandfield & Dodd LLC reduced its GE Aerospace stake by 2.1% in the third quarter, selling 4,668 shares and retaining 222,828 shares valued at approximately $69.6 million. Institutional investors collectively own 74.77% of the stock.
• Analysts maintain a generally positive outlook, with GE Aerospace carrying a “Moderate Buy” consensus rating and an average price target of $373.45, despite some recent target reductions.
• GE Aerospace exceeded quarterly expectations with adjusted EPS of $2.25 and revenue of $13.29 billion, up 24.7% year over year. The company also declared a quarterly dividend of $0.47 per share, representing a 0.6% annualized yield.

Grandfield & Dodd LLC cut its stake in GE Aerospace (NYSE:GE - Free Report) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,828 shares of the company's stock after selling 4,668 shares during the period. GE Aerospace accounts for 3.7% of Grandfield & Dodd LLC's portfolio, making the stock its 4th largest position. Grandfield & Dodd LLC's holdings in GE Aerospace were worth $69,587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Investment Partners LTD. lifted its stake in GE Aerospace by 140.5% during the third quarter. Investment Partners LTD. now owns 4,146 shares of the company's stock worth $1,295,000 after purchasing an additional 2,422 shares during the last quarter. Blue Fin Capital Inc. boosted its holdings in GE Aerospace by 15.8% in the third quarter. Blue Fin Capital Inc. now owns 2,889 shares of the company's stock worth $902,000 after purchasing an additional 395 shares during the period. Global Assets Advisory LLC increased its stake in GE Aerospace by 0.7% during the third quarter. Global Assets Advisory LLC now owns 9,503 shares of the company's stock valued at $2,916,000 after purchasing an additional 66 shares during the last quarter. Summit Global Investments raised its holdings in shares of GE Aerospace by 94.5% during the third quarter. Summit Global Investments now owns 5,645 shares of the company's stock worth $1,763,000 after purchasing an additional 2,743 shares during the period. Finally, MGO One Seven LLC raised its holdings in shares of GE Aerospace by 2.2% during the third quarter. MGO One Seven LLC now owns 32,311 shares of the company's stock worth $10,091,000 after purchasing an additional 691 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Key GE Aerospace News

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?

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Susquehanna reduced their price target on shares of GE Aerospace from $430.00 to $400.00 and set a "positive" rating on the stock in a research report on Wednesday, October 21st. TD Cowen reaffirmed a "buy" rating and set a $380.00 price objective (up from $330.00) on shares of GE Aerospace in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $378.00 price objective on shares of GE Aerospace in a research note on Wednesday, October 21st. HC Wainwright set a $375.00 target price on shares of GE Aerospace in a report on Wednesday, October 21st. Finally, BNP Paribas Exane decreased their target price on GE Aerospace from $305.00 to $280.00 and set an "underperform" rating for the company in a research note on Wednesday, October 21st. Sixteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, GE Aerospace presently has an average rating of "Moderate Buy" and an average price target of $373.45.

GE Aerospace Stock Performance

Shares of NYSE GE opened at $301.58 on Friday. The company has a market cap of $311.64 billion, a PE ratio of 34.78, a P/E/G ratio of 2.05 and a beta of 1.38. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.96. GE Aerospace has a 12-month low of $268.91 and a 12-month high of $388.84. The stock has a 50 day simple moving average of $317.37 and a 200-day simple moving average of $323.12.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Tuesday, October 20th. The company reported $2.25 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 firm had revenue of $13.29 billion for the quarter, compared to analysts' expectations of $12.88 billion. During the same quarter in the previous year, the company earned $1.66 earnings per share. The firm's quarterly revenue was up 24.7% compared to the same quarter last year. On average, equities research analysts forecast 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. Investors of record on Monday, October 5th were given a dividend of $0.47 per share. 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 payout ratio is presently 21.68%.

About GE Aerospace

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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