GE Aerospace $GE Stock Holdings Lowered by Aberdeen Group plc

Key Points

• Aberdeen Group cut its GE Aerospace stake by 25.7% in the third quarter, selling 343,527 shares and retaining 994,520 shares worth about $310.6 million. Institutional investors collectively own 74.77% of the stock.
• GE Aerospace beat quarterly expectations, reporting EPS of $2.25 versus $2.01 expected and revenue of $13.29 billion, up 24.7% year over year.
• Analysts have a “Moderate Buy” consensus and an average price target of $373.45; 16 rate the stock Buy, three Hold, and one Sell.

Aberdeen Group plc trimmed its position in shares of GE Aerospace (NYSE:GE - Free Report) by 25.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 994,520 shares of the company's stock after selling 343,527 shares during the quarter. Aberdeen Group plc owned about 0.10% of GE Aerospace worth $310,579,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GK Wealth Management LLC bought a new stake in GE Aerospace during the third quarter valued at about $25,000. Clark Wealth Partners grew its position in shares of GE Aerospace by 70.1% during the third quarter. Clark Wealth Partners now owns 114 shares of the company's stock valued at $36,000 after purchasing an additional 47 shares in the last quarter. Paladin Partners LLC purchased a new stake in shares of GE Aerospace during the 2nd quarter worth approximately $38,000. Parvin Asset Management LLC purchased a new position in shares of GE Aerospace in the 2nd quarter worth $41,000. Finally, Markowski Investments bought a new position in shares of GE Aerospace in the 2nd quarter valued at about $46,000. Institutional investors own 74.77% of the company's stock.

GE Aerospace Price Performance

NYSE:GE opened at $331.48 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.98 and a quick ratio of 0.68. The company has a 50 day moving average price of $314.81 and a 200-day moving average price of $324.02. GE Aerospace has a 1-year low of $268.91 and a 1-year high of $388.84. The firm has a market cap of $342.53 billion, a price-to-earnings ratio of 38.23, a price-to-earnings-growth ratio of 2.25 and a beta of 1.43.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings results on Tuesday, October 20th. The company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.01 by $0.24. GE Aerospace had a net margin of 17.31% and a return on equity of 44.43%. The company had revenue of $13.29 billion for the quarter, compared to analyst estimates of $12.88 billion. During the same quarter last year, the business earned $1.66 earnings per share. The firm's revenue was up 24.7% on a year-over-year basis. 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 paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, October 5th. GE Aerospace's payout ratio is currently 21.68%.

Analyst Ratings Changes

A number of research analysts have weighed in on GE shares. Susquehanna cut 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. BNP Paribas Exane decreased their price target on shares of GE Aerospace from $305.00 to $280.00 and set an "underperform" rating for the company in a report on Wednesday, October 21st. Wells Fargo & Company cut their price objective on GE Aerospace from $390.00 to $380.00 and set an "overweight" rating on the stock in a report on Wednesday, September 30th. Royal Bank Of Canada set a $376.00 price objective on shares of GE Aerospace in a report on Friday, October 23rd. Finally, Guggenheim set a $380.00 price objective on shares of GE Aerospace in a research note on Wednesday, October 21st. Sixteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $373.45.

Insider Buying and Selling at GE Aerospace

In related news, VP Robert Giglietti sold 14,796 shares of the company's stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $332.54, for a total value of $4,920,261.84. Following the completion of the transaction, the vice president owned 20,201 shares of the company's stock, valued at approximately $6,717,640.54. This represents a 42.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

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.

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