GE Aerospace $GE Shares Sold by Kestra Private Wealth Services LLC

Key Points

• Kestra Private Wealth Services cut its GE Aerospace stake by 7.6% in the third quarter, selling 3,865 shares and retaining 47,142 shares valued at about $14.7 million.
• GE Aerospace beat quarterly expectations, reporting EPS of $2.25 versus a $2.01 consensus and revenue of $13.29 billion, up 24.7% year over year.
• Commercial-engine demand and new U.S. Navy turbine orders support growth, while revised inspections following reports of premature cracks in some GEnx turbine blades pose a potential maintenance burden for airlines.

Kestra Private Wealth Services LLC reduced its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 7.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,142 shares of the company's stock after selling 3,865 shares during the quarter. Kestra Private Wealth Services LLC's holdings in GE Aerospace were worth $14,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Amundi boosted its position in shares of GE Aerospace by 135.2% during the first quarter. Amundi now owns 6,119,975 shares of the company's stock worth $1,736,665,000 after acquiring an additional 3,518,278 shares during the last quarter. Jupiter Topco LLC purchased a new position in GE Aerospace during the second quarter valued at $1,283,858,000. Wellington Management Group LLP grew its stake in GE Aerospace by 97.3% during 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. Jennison Associates LLC increased its holdings in GE Aerospace by 37.7% in the 1st 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 during the last quarter. Finally, State Street Corp increased its holdings in GE Aerospace by 2.6% in the 2nd 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 during the last quarter. Institutional investors own 74.77% of the company's stock.

GE Aerospace News Roundup

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

• Positive Sentiment: GE Aerospace will supply LM2500 marine gas turbines for two U.S. Navy Flight III destroyers. The reports say the ships will use eight GE gas turbine engines in total, adding defense business and potential follow-on service work. GE Aerospace to Supply Engines for Two US Navy Flight III Destroyers
• Positive Sentiment: Commercial engine demand remains a tailwind: GE’s commercial segment is seeing strong orders and services activity for LEAP, GEnx and GE9X engines. CFM International, GE’s joint venture with Safran, also secured large LEAP engine agreements, including orders tied to IndiGo and Turkish Airlines fleets. GE's Commercial Engines Segment Gains Momentum: Can It Sustain?
• Neutral Sentiment: Call-option trading in GE was unusually active, with volume reported at 161% above its average. This may signal bullish positioning, but options activity is speculative and does not by itself confirm improved fundamentals. GE Aerospace options activity
• Negative Sentiment: GE Aerospace revised inspection guidance for certain GEnx-1B engines after a study reported premature cracks in some turbine blades. Additional checks could create maintenance and scheduling burdens for airlines and raise near-term uncertainty, although the reports do not quantify a financial impact. General Electric (GE) Updates Engine Checks After Study Flags Early Blade Cracks

GE Aerospace Stock Up 2.9%

NYSE GE opened at $329.91 on Thursday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.68 and a current ratio of 0.98. The company has a market capitalization of $340.91 billion, a P/E ratio of 38.05, a P/E/G ratio of 2.18 and a beta of 1.43. GE Aerospace has a one year low of $268.91 and a one year high of $388.84. The stock has a 50 day moving average price of $315.88 and a 200-day moving average price of $323.12.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results on Tuesday, October 20th. The company reported $2.25 earnings per share for the quarter, beating analysts' consensus estimates of $2.01 by $0.24. GE Aerospace had a net margin of 17.31% and a return on equity of 44.43%. The firm had revenue of $13.29 billion during the quarter, compared to analyst estimates of $12.88 billion. During the same period last year, the firm posted $1.66 earnings per share. GE Aerospace's revenue for the quarter was up 24.7% compared to the same quarter last year. As a group, equities analysts predict that GE Aerospace will post 8.16 EPS for the current fiscal year.

GE Aerospace Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have commented on GE. Royal Bank Of Canada set a $376.00 price target on shares of GE Aerospace in a research note on Friday, October 23rd. Melius Research set a $350.00 price objective on GE Aerospace and gave the company a "hold" rating in a research report on Monday, September 14th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of GE Aerospace in a report on Thursday, October 15th. Vertical Research reaffirmed a "buy" rating and issued a $400.00 target price on shares of GE Aerospace in a report on Tuesday, October 20th. Finally, HC Wainwright set a $375.00 target price 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 issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $373.45.

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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