GE Aerospace $GE Stock Bought by Trek Financial LLC

Key Points

• Trek Financial LLC increased its GE Aerospace position by 2,048.9% in the third quarter, ending with 20,243 shares valued at approximately $6.32 million. Institutional investors collectively own 74.77% of the company.
• Analyst sentiment remains favorable, 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 reported quarterly earnings of $2.25 per share and revenue of $13.29 billion, beating estimates and posting 24.7% year-over-year revenue growth. The company also maintains a quarterly dividend of $0.47 per share, representing a 0.6% yield.

Trek Financial LLC lifted its position in GE Aerospace (NYSE:GE - Free Report) by 2,048.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,243 shares of the company's stock after purchasing an additional 19,301 shares during the quarter. Trek Financial LLC's holdings in GE Aerospace were worth $6,322,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. GK Wealth Management LLC acquired a new position in shares of GE Aerospace during the 3rd quarter worth approximately $25,000. Paladin Partners LLC bought a new stake in shares of GE Aerospace in the second quarter worth $38,000. Parvin Asset Management LLC acquired a new position in shares of GE Aerospace in the 2nd quarter worth approximately $41,000. Clark Wealth Partners lifted its holdings in shares of GE Aerospace by 70.1% in 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 last quarter. Finally, Markowski Investments acquired a new position in GE Aerospace during the 2nd quarter worth $46,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on GE. Jefferies Financial Group restated a "buy" rating and set a $425.00 price objective on shares of GE Aerospace in a report on Sunday, October 25th. UBS Group reissued a "buy" rating and set a $380.00 price objective (up from $377.00) on shares of GE Aerospace in a research report on Wednesday, October 21st. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $378.00 price target on shares of GE Aerospace in a research note on Wednesday, October 21st. Morgan Stanley reiterated an "overweight" rating and set a $375.00 target price (down from $400.00) on shares of GE Aerospace in a research report on Wednesday, October 21st. Finally, Weiss Ratings restated a "buy (b)" rating on shares of GE Aerospace in a research note on Thursday, October 15th. Sixteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $373.45.

GE Aerospace Trading Down 0.1%

NYSE GE opened at $301.58 on Monday. The company has a market capitalization of $311.64 billion, a PE ratio of 34.78, a P/E/G ratio of 2.05 and a beta of 1.43. The stock has a 50-day simple moving average of $317.37 and a 200 day simple moving average of $323.12. 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.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $13.29 billion for the quarter, compared to the consensus estimate of $12.88 billion. During the same quarter last year, the business posted $1.66 EPS. The firm's revenue was up 24.7% compared to the same quarter last year. Research analysts forecast that GE Aerospace will post 8.16 EPS for the current year.

GE Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 26th. Shareholders of record on Monday, October 5th were paid 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 yield of 0.6%. GE Aerospace's payout ratio is presently 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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