GE Aerospace $GE Stock: Commonwealth Equity Services LLC Trims Holdings

Key Points

• Commonwealth Equity Services cut its GE Aerospace stake by 5.4%, selling 20,014 shares and retaining 351,935 shares valued at about $109.9 million.
• Institutional investors and hedge funds own 74.77% of the stock; several large investors increased holdings, including Amundi and Wellington Management.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $373.45. GE also topped quarterly earnings and revenue estimates, with revenue up 24.7% year over year.

Commonwealth Equity Services LLC cut its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 5.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 351,935 shares of the company's stock after selling 20,014 shares during the quarter. Commonwealth Equity Services LLC's holdings in GE Aerospace were worth $109,906,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GE. Amundi grew its position in GE Aerospace by 135.2% during the 1st 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 acquired a new position in shares of GE Aerospace in the second quarter valued at approximately $1,283,858,000. Wellington Management Group LLP raised its holdings in GE Aerospace by 97.3% in the 2nd quarter. Wellington Management Group LLP now owns 6,797,935 shares of the company's stock valued at $2,540,592,000 after buying an additional 3,352,432 shares during the last quarter. Jennison Associates LLC raised 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 buying an additional 3,017,937 shares during the last quarter. Finally, State Street Corp boosted 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 buying an additional 1,160,584 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at GE Aerospace

In other news, VP Robert Giglietti sold 14,796 shares of the company's stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $332.54, for a total transaction of $4,920,261.84. Following the transaction, the vice president owned 20,201 shares in the company, valued at approximately $6,717,640.54. This represents a 42.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. TD Cowen reissued a "buy" rating and issued a $380.00 price target (up from $330.00) on shares of GE Aerospace in a research note on Monday, July 13th. Sanford C. Bernstein set a $376.00 price objective on GE Aerospace in a research note on Friday, October 23rd. Weiss Ratings reiterated a "buy (b)" rating on shares of GE Aerospace in a report on Thursday, October 15th. Morgan Stanley restated an "overweight" rating and set a $375.00 price target (down from $400.00) on shares of GE Aerospace in a report on Wednesday, October 21st. Finally, UBS Group restated a "buy" rating and issued a $380.00 price target (up from $377.00) on shares of GE Aerospace in a research report on Wednesday, October 21st. Sixteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $373.45.

Trending Headlines about GE Aerospace

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

• Positive Sentiment: GE Aerospace partnered with BETA Technologies on a hybrid-electric aircraft demonstration, marking progress in a new propulsion technology area. GE Aerospace partners with BETA Technologies
• Positive Sentiment: GE is part of a team working on KC-135 modernization, adding a defense-program opportunity alongside its commercial aerospace business. SNC teams with BAE, Collins and GE for KC-135 modernization
• Neutral Sentiment: Analyst coverage highlighted GE’s roughly $170 billion services backlog and generally favorable ratings, but also questioned whether the stock’s valuation already reflects much of its growth potential. GE Aerospace backlog and valuation analysis
• Negative Sentiment: Vice President Robert Giglietti sold 14,796 shares, cutting his reported stake by about 42%. Insider sales can have many explanations, but may contribute to investor caution. GE Aerospace VP sells shares
• Negative Sentiment: ETFs were reported as net sellers of GE shares, a sign of near-term fund outflows that could weigh on sentiment. ETFs are net sellers of General Electric

GE Aerospace Price Performance

Shares of GE opened at $323.54 on Friday. The firm has a market cap of $334.33 billion, a PE ratio of 37.32, a price-to-earnings-growth ratio of 2.15 and a beta of 1.43. GE Aerospace has a 52-week low of $268.91 and a 52-week high of $388.84. The business's 50 day moving average price is $314.70 and its two-hundred day moving average price is $323.12. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.68 and a current ratio of 0.98.

GE Aerospace (NYSE:GE - Get Free Report) last announced 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. The company had revenue of $13.29 billion during the quarter, compared to the consensus estimate of $12.88 billion. GE Aerospace had a net margin of 17.31% and a return on equity of 44.43%. The company's quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.66 EPS. On average, equities analysts anticipate that GE Aerospace will post 8.16 EPS for the current year.

GE Aerospace Dividend Announcement

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. 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 21.68%.

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.

GE Aerospace traces its roots to General Electric's aviation business, which developed over more than a century.

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