GE Aerospace $GE Stake Lessened by Americana Partners LLC

Key Points

• Americana Partners reduced its GE Aerospace stake by 14.4% in the third quarter, selling 17,922 shares and retaining 106,311 shares valued at approximately $33.2 million.
• Other major institutions—including State Street, Jennison Associates, Bank of America, UBS Asset Management and Wellington Management—expanded their positions. Institutional investors collectively own 74.77% of GE Aerospace.
• GE Aerospace recently exceeded quarterly expectations with $2.25 in EPS and $13.29 billion in revenue, while analysts maintain a “Moderate Buy” consensus and an average price target of $373.45; shares opened at $301.58.

Americana Partners LLC cut its stake in GE Aerospace (NYSE:GE - Free Report) by 14.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,311 shares of the company's stock after selling 17,922 shares during the period. Americana Partners LLC's holdings in GE Aerospace were worth $33,200,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. State Street Corp increased its position 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 worth $17,377,559,000 after purchasing an additional 1,160,584 shares in the last quarter. Jennison Associates LLC boosted its position in shares of 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 purchasing an additional 3,017,937 shares during the period. Bank of America Corp DE grew its stake 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 worth $2,175,006,000 after buying an additional 695,731 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in GE Aerospace by 6.3% during 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 worth $2,710,142,000 after buying an additional 427,820 shares during the period. Finally, Wellington Management Group LLP increased its position 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 worth $2,540,592,000 after buying an additional 3,352,432 shares during the period. Institutional investors and hedge funds 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 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?

GE Aerospace Trading Down 3.7%

Shares of GE stock opened at $301.58 on Friday. The business's fifty day moving average price is $317.37 and its 200 day moving average price is $323.12. GE Aerospace has a 1-year low of $268.91 and a 1-year high of $388.84. The firm has a market capitalization of $311.64 billion, a PE ratio of 34.78, a P/E/G ratio of 2.13 and a beta of 1.38. 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 (NYSE:GE - Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The company reported $2.25 earnings per share for the quarter, topping analysts' consensus estimates of $2.01 by $0.24. The business had revenue of $13.29 billion for the quarter, compared to analysts' expectations of $12.88 billion. GE Aerospace had a net margin of 17.31% and a return on equity of 44.43%. The business's revenue for the quarter was up 24.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.66 EPS. As a group, sell-side analysts forecast that GE Aerospace will post 8.16 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GE. UBS Group reissued a "buy" rating and issued a $380.00 price objective (up from $377.00) on shares of GE Aerospace in a report on Wednesday, October 21st. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $378.00 price target on shares of GE Aerospace in a research report on Wednesday, October 21st. Wells Fargo & Company decreased their price target on shares of GE Aerospace from $390.00 to $380.00 and set an "overweight" rating for the company in a research note on Wednesday, September 30th. Susquehanna lowered their price objective 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. Finally, Guggenheim set a $380.00 price objective on shares of GE Aerospace in a research note on Wednesday, October 21st. Sixteen equities research 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 MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $373.45.

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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