GE Aerospace $GE Stock Sold by AdvisorNet Financial Inc

Key Points

• AdvisorNet Financial reduced its GE Aerospace stake by 21.5% in the third quarter, selling 3,579 shares and retaining 13,046 shares valued at approximately $4.0 million. Institutional investors collectively own 74.77% of the company.
• Analyst sentiment remains broadly positive, with 16 Buy ratings, three Holds and one Sell; GE Aerospace has a “Moderate Buy” consensus rating and an average price target of $386.67. However, Deutsche Bank recently cut its target to $377 from $450.
• GE Aerospace reported quarterly EPS of $2.02, beating estimates of $1.86, while revenue rose 21.1% year over year to $12.63 billion. The company also declared a quarterly dividend of $0.47 per share, representing a 0.6% yield.

AdvisorNet Financial Inc decreased its stake in GE Aerospace (NYSE:GE - Free Report) by 21.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,046 shares of the company's stock after selling 3,579 shares during the period. AdvisorNet Financial Inc's holdings in GE Aerospace were worth $4,005,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Saxony Capital Management LLC raised its position in GE Aerospace by 15.6% during the third quarter. Saxony Capital Management LLC now owns 904 shares of the company's stock valued at $282,000 after purchasing an additional 122 shares in the last quarter. Weaver Capital Management LLC increased its position in shares of GE Aerospace by 38.4% during the 3rd quarter. Weaver Capital Management LLC now owns 13,711 shares of the company's stock valued at $4,282,000 after purchasing an additional 3,805 shares during the last quarter. WealthPLAN Partners LLC increased its position in shares of GE Aerospace by 11.9% during the 3rd quarter. WealthPLAN Partners LLC now owns 2,449 shares of the company's stock valued at $765,000 after purchasing an additional 261 shares during the last quarter. Summit Financial Wealth Advisors LLC increased its position in shares of GE Aerospace by 20.5% during the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 693 shares of the company's stock valued at $216,000 after purchasing an additional 118 shares during the last quarter. Finally, Charles Schwab Trust Co raised its holdings in shares of GE Aerospace by 6.4% during the 3rd quarter. Charles Schwab Trust Co now owns 2,086 shares of the company's stock valued at $651,000 after buying an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on GE shares. Wells Fargo & Company dropped their target price 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. Citigroup reaffirmed a "buy" rating and issued a $431.00 target price (up from $353.00) on shares of GE Aerospace in a research note on Wednesday, July 1st. JPMorgan Chase & Co. increased their price target on shares of GE Aerospace from $335.00 to $400.00 and gave the company an "overweight" rating in a research report on Monday, July 20th. Weiss Ratings upgraded shares of GE Aerospace from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 17th. Finally, Susquehanna reissued a "positive" rating and set a $430.00 price target (up from $380.00) on shares of GE Aerospace in a research note on Thursday, July 9th. Sixteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $386.67.

Insider Transactions at GE Aerospace

In related news, SVP Mohamed Ali sold 8,096 shares of the firm's stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $353.71, for a total transaction of $2,863,636.16. Following the transaction, the senior vice president directly owned 20,666 shares in the company, valued at $7,309,770.86. This trade represents a 28.15% decrease in their position. The transaction 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 insiders.

GE Aerospace Stock Performance

NYSE GE opened at $312.04 on Friday. The company has a 50-day simple moving average of $330.91 and a two-hundred day simple moving average of $328.32. The company has a quick ratio of 0.67, a current ratio of 0.98 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. The firm has a market cap of $323.76 billion, a price-to-earnings ratio of 43.18, a PEG ratio of 2.24 and a beta of 1.38.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Thursday, July 16th. The company reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.86 by $0.16. GE Aerospace had a return on equity of 40.56% and a net margin of 17.72%. The firm had revenue of $12.63 billion for the quarter, compared to analysts' expectations of $11.87 billion. During the same period last year, the firm earned $1.66 earnings per share. The company's revenue for the quarter was up 21.1% compared to the same quarter last year. On average, equities analysts forecast that GE Aerospace will post 7.91 EPS for the current year.

GE Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Monday, October 5th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, October 5th. GE Aerospace's dividend payout ratio (DPR) is presently 22.14%.

GE Aerospace News Roundup

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

• Positive Sentiment: GE Aerospace received a $16 million defense order for fighter-jet generator repair work in Vandalia, Ohio. The contract adds to the company’s defense aftermarket activity and provides incremental revenue visibility. GE Aerospace sends $16M defense order for fighter jet repair work to Vandalia
• Positive Sentiment: Analysts and market commentary are constructive ahead of GE Aerospace’s October 20 earnings release. Coverage points to the possibility of solid third-quarter results, while the average analyst target of $386.67 and Susquehanna’s $430 buy-rated target remain well above the recent trading level. Why It’s Time To Load Up on GE Aerospace Stock GE Aerospace Stock Has Average Target Price of $386.67
• Positive Sentiment: GE Aerospace is committing approximately $400 million to sourcing in India and investing £30 million to expand its Prestwick operation, expected to create 150 jobs. These investments could strengthen manufacturing capacity and support long-term growth, though they may increase near-term spending. GE Aerospace commits USD 400 million to India sourcing GE Aerospace to invest £30m in Prestwick expansion
• Positive Sentiment: The GE Aerospace Foundation’s $1 million workforce-training investment in the Dallas-Fort Worth region may help address skilled-labor shortages and support future hiring. North Texas Aerospace Industry Needs Workers
• Neutral Sentiment: GE Aerospace’s CEO participated in discussions with U.S. officials on aircraft-certification reform. Faster approvals could benefit the industry, but the timing and financial impact remain uncertain. US Transportation Secretary meeting with Boeing and GE CEOs
• Negative Sentiment: Deutsche Bank reduced its GE Aerospace price target to $377 from $450, signaling less upside than previously expected. With the stock trading at a high earnings multiple, investors may be particularly sensitive to any earnings miss or cautious guidance. Deutsche Bank Adjusts Price Target on GE Aerospace

GE Aerospace Profile

GE Aerospace is an aerospace and defense company that designs, develops, manufactures and services aircraft engines and integrated systems. Its products support commercial and business aviation, military aircraft, and other specialized aerospace applications.

The company's offerings include commercial and military jet engines, propulsion systems, avionics, electrical power systems, mechanical systems and digital solutions. GE Aerospace also provides maintenance, repair, overhaul and other lifecycle services intended to support the operation and performance of aircraft and engines.

GE Aerospace serves airlines, aircraft manufacturers, leasing companies, defense organizations and other customers worldwide.

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