GE Aerospace $GE Stock: Legacy Financial Independent Advisors LLC Raises Position

Key Points

• Legacy Financial Independent Advisors increased its GE Aerospace stake by 298.5% in the third quarter, ending the period with 11,175 shares valued at about $3.49 million. Institutional investors collectively own 74.77% of the company.
• GE Aerospace beat quarterly earnings and revenue expectations, reporting EPS of $2.25 and revenue of $13.29 billion; revenue rose 24.7% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $373.45, despite several firms lowering their targets. The stock recently opened at $314.25.

Legacy Financial Independent Advisors LLC raised its stake in GE Aerospace (NYSE:GE - Free Report) by 298.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,175 shares of the company's stock after purchasing an additional 8,371 shares during the period. GE Aerospace comprises 1.7% of Legacy Financial Independent Advisors LLC's investment portfolio, making the stock its 19th biggest position. Legacy Financial Independent Advisors LLC's holdings in GE Aerospace were worth $3,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. GK Wealth Management LLC purchased a new stake in shares of GE Aerospace during the third quarter worth approximately $25,000. Clark Wealth Partners raised its holdings in GE Aerospace by 70.1% in the third quarter. Clark Wealth Partners now owns 114 shares of the company's stock valued at $36,000 after acquiring an additional 47 shares in the last quarter. Paladin Partners LLC purchased a new position in GE Aerospace in the second quarter worth approximately $38,000. Parvin Asset Management LLC purchased a new position in GE Aerospace in the second quarter worth approximately $41,000. Finally, Markowski Investments acquired a new position in GE Aerospace during the 2nd quarter worth approximately $46,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Performance

NYSE:GE opened at $314.25 on Friday. The firm's fifty day simple moving average is $315.07 and its 200-day simple moving average is $323.07. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.96. The stock has a market cap of $324.73 billion, a PE ratio of 36.25, a price-to-earnings-growth ratio of 2.24 and a beta of 1.43. GE Aerospace has a fifty-two week low of $268.91 and a fifty-two week high of $388.84.

GE Aerospace (NYSE:GE - Get Free Report) last issued its earnings results on Tuesday, October 20th. The company reported $2.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.01 by $0.24. The company had revenue of $13.29 billion during 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 firm's quarterly revenue was up 24.7% compared to the same quarter last year. During the same period last year, the company posted $1.66 earnings per share. Analysts expect that GE Aerospace will post 8.16 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

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

Wall Street Analyst Weigh In

GE has been the subject of several analyst reports. Wells Fargo & Company lowered their price objective on GE Aerospace from $390.00 to $380.00 and set an "overweight" rating for the company in a research report on Wednesday, September 30th. JPMorgan Chase & Co. lowered their price target on GE Aerospace from $400.00 to $375.00 and set an "overweight" rating on the stock in a report on Wednesday, October 21st. Susquehanna cut their price objective on shares of GE Aerospace from $430.00 to $400.00 and set a "positive" rating for the company in a research report on Wednesday, October 21st. Morgan Stanley restated an "overweight" rating and issued a $375.00 target price (down from $400.00) on shares of GE Aerospace in a research note on Wednesday, October 21st. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $410.00 target price on shares of GE Aerospace in a report on Monday, July 20th. Sixteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, GE Aerospace presently has a consensus rating of "Moderate Buy" and an average price target of $373.45.

Key GE Aerospace News

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

• Positive Sentiment: Delayed aircraft deliveries are keeping older planes in service longer, supporting demand for engine maintenance, replacement parts and shop visits. GE Aerospace’s commercial services backlog is reported at about $170 billion, making this a potential longer-term tailwind. GE Aerospace stock faces Boeing delays as maintenance demand rises
• Positive Sentiment: GE Aerospace is set to supply gas-turbine engines for two U.S. Navy destroyers, adding defense-related work and potential follow-on service revenue. GE Aerospace to Supply Engines for Two US Navy Flight III Destroyers
• Positive Sentiment: Technical coverage noted GE recently moved above its 200-day moving average, a signal some investors view as supportive of the longer-term trend. GE Aerospace recently broke out above the 200-day moving average
• Neutral Sentiment: CEO Larry Culp said U.S. midterm election results do not have much impact on GE Aerospace’s business, suggesting limited direct exposure to the political outcome. GE Aerospace CEO Larry Culp on midterm results
• Negative Sentiment: GE updated inspection guidance for certain GEnx-1B engines after a study identified early turbine-blade cracks. Additional inspections could complicate airline schedules and raise near-term service demands or costs; reports linked the issue to recent share weakness. GE updates engine checks after study flags early blade cracks
• Negative Sentiment: A GE Aerospace vice president sold 14,796 shares, reducing his reported stake by about 42%. Insider sales can have varied reasons, but the transaction may add to near-term caution. GE Aerospace insider transaction report
• Negative Sentiment: ETFs were reported as net sellers of GE shares, while commentary also notes the stock’s premium valuation, leaving less room for disappointment in execution or growth. ETFs are net sellers of General Electric

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 on 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 sale, the vice president directly owned 20,201 shares in the company, valued at $6,717,640.54. This represents a 42.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by company insiders.

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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