GE Aerospace $GE Stock Purchased by Ethic Inc.

Key Points

• Ethic Inc. increased its GE Aerospace stake by 5.4% in the third quarter, to 76,847 shares valued at about $24 million. Institutional investors and hedge funds collectively own 74.77% of the stock.
• GE Aerospace beat quarterly estimates, reporting EPS of $2.25 versus $2.01 expected and revenue of $13.29 billion, up 24.7% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $373.45, though coverage noted valuation concerns; meanwhile, a vice president sold 14,796 shares, reducing his stake by about 42%.

Ethic Inc. boosted its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 5.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 76,847 shares of the company's stock after purchasing an additional 3,904 shares during the period. Ethic Inc.'s holdings in GE Aerospace were worth $23,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Susquehanna Fundamental Investments LLC boosted its stake in shares of GE Aerospace by 261.0% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 213,603 shares of the company's stock worth $79,830,000 after acquiring an additional 154,429 shares in the last quarter. Christensen King & Associates Investment Services Inc. purchased a new position in shares of GE Aerospace in the 3rd quarter valued at about $4,934,000. HWG Holdings LP increased its stake in shares of GE Aerospace by 54.7% in the 3rd quarter. HWG Holdings LP now owns 15,640 shares of the company's stock valued at $4,884,000 after purchasing an additional 5,531 shares in the last quarter. Clough Capital Partners L P increased its stake in shares of GE Aerospace by 37.1% in the 1st quarter. Clough Capital Partners L P now owns 70,535 shares of the company's stock valued at $20,016,000 after purchasing an additional 19,105 shares in the last quarter. Finally, GoalVest Advisory LLC raised its holdings in GE Aerospace by 330.1% in the 3rd quarter. GoalVest Advisory LLC now owns 30,858 shares of the company's stock worth $9,637,000 after purchasing an additional 23,684 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

GE Aerospace News Summary

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 Stock Up 2.8%

Shares of NYSE GE opened at $323.54 on Friday. The firm has a market cap of $334.33 billion, a price-to-earnings ratio of 37.32, a price-to-earnings-growth ratio of 2.20 and a beta of 1.43. The company's 50-day simple moving average is $314.70 and its 200-day simple moving average is $323.12. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.96. GE Aerospace has a 52-week low of $268.91 and a 52-week high of $388.84.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings results on Tuesday, October 20th. The company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.24. The firm 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 revenue for the quarter was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.66 EPS. Equities analysts predict that GE Aerospace will post 8.16 EPS for the current fiscal year.

GE Aerospace Announces Dividend

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

Analysts Set New Price Targets

GE has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of GE Aerospace in a research report on Thursday, October 15th. Morgan Stanley reissued an "overweight" rating and issued a $375.00 price objective (down from $400.00) on shares of GE Aerospace in a report on Wednesday, October 21st. Sanford C. Bernstein set a $376.00 price objective on GE Aerospace in a research report on Friday, October 23rd. Melius Research set a $350.00 target price on GE Aerospace and gave the stock a "hold" rating in a research note on Monday, September 14th. Finally, Guggenheim set a $380.00 target price on GE Aerospace in a research report on Wednesday, October 21st. Sixteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, GE Aerospace presently has a consensus rating of "Moderate Buy" and an average target price of $373.45.

Insider Activity at GE Aerospace

In other GE Aerospace news, VP Robert Giglietti sold 14,796 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $332.54, for a total transaction 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 $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 this hyperlink. 0.19% of the stock is owned by insiders.

GE Aerospace Profile

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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