M Holdings Securities Inc. Acquires New Stake in GE Aerospace $GE

Key Points

• M Holdings Securities initiated a position in GE Aerospace during the third quarter, buying 21,706 shares valued at about $6.83 million. Institutional investors collectively own 74.77% of the company.
• GE Aerospace reported quarterly earnings of $2.25 per share and revenue of $13.29 billion, exceeding analyst expectations; revenue rose 24.7% year over year.
• Analysts give GE a consensus “Moderate Buy” rating and an average price target of $373.45. However, a company vice president sold 14,796 shares, reducing his stake by about 42%.

M Holdings Securities Inc. bought a new stake in GE Aerospace (NYSE:GE - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 21,706 shares of the company's stock, valued at approximately $6,828,000.

Other institutional investors also recently modified their holdings of the company. Avantax Planning Partners Inc. lifted its position in GE Aerospace by 5.4% during the 3rd quarter. Avantax Planning Partners Inc. now owns 6,852 shares of the company's stock worth $2,140,000 after buying an additional 354 shares in the last quarter. Candriam S.C.A. lifted its holdings in GE Aerospace by 8.3% during the 3rd quarter. Candriam S.C.A. now owns 157,296 shares of the company's stock worth $49,301,000 after buying an additional 12,091 shares in the last quarter. Richard Young Associates Ltd. lifted its holdings in GE Aerospace by 8.2% during the 3rd quarter. Richard Young Associates Ltd. now owns 1,983 shares of the company's stock worth $619,000 after buying an additional 150 shares in the last quarter. American State Bank Iowa boosted its position in GE Aerospace by 4.0% in the 3rd quarter. American State Bank Iowa now owns 8,819 shares of the company's stock valued at $2,754,000 after buying an additional 341 shares during the last quarter. Finally, Cullinan Associates Inc. boosted its position in GE Aerospace by 5.5% in the 3rd quarter. Cullinan Associates Inc. now owns 5,462 shares of the company's stock valued at $1,706,000 after buying an additional 286 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

More GE Aerospace News

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

Insider Transactions at GE Aerospace

In other GE Aerospace news, VP Robert Giglietti sold 14,796 shares of the business's stock in a transaction dated 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 approximately $6,717,640.54. The trade was a 42.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

GE Aerospace Stock Up 0.1%

Shares of GE opened at $323.54 on Monday. GE Aerospace has a 52 week low of $268.91 and a 52 week high of $388.84. The firm has a market cap of $334.33 billion, a P/E ratio of 37.32, a price-to-earnings-growth ratio of 2.20 and a beta of 1.43. The firm's 50-day simple moving average is $314.70 and its 200 day simple moving average 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 posted its earnings results on Tuesday, October 20th. The company reported $2.25 earnings per share for the quarter, topping analysts' consensus estimates 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 return on equity of 44.43% and a net margin of 17.31%. The company's revenue was up 24.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.66 earnings per share. On average, analysts forecast that GE Aerospace will post 8.16 earnings per share for the current year.

GE Aerospace Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GE shares. Melius Research set a $350.00 target price on GE Aerospace and gave the company a "hold" rating in a research note on Monday, September 14th. Vertical Research restated a "buy" rating and set a $400.00 price objective on shares of GE Aerospace in a report on Tuesday, October 20th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $378.00 price objective on shares of GE Aerospace in a research report on Wednesday, October 21st. Wells Fargo & Company reduced their target price on shares of GE Aerospace from $390.00 to $380.00 and set an "overweight" rating for the company in a research note on Wednesday, September 30th. Finally, Sanford C. Bernstein set a $376.00 target price on GE Aerospace in a report on Friday, October 23rd. Sixteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, GE Aerospace presently has a consensus rating of "Moderate Buy" and an average target price of $373.45.

GE Aerospace Company 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.

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Aerospace (NYSE:GE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.