GE Aerospace $GE Holdings Decreased by Platform Technology Partners

Platform Technology Partners cut its position in shares of GE Aerospace (NYSE:GE) by 67.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,540 shares of the company’s stock after selling 7,500 shares during the quarter. Platform Technology Partners’ holdings in GE Aerospace were worth $1,065,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Jacobsen Capital Management boosted its holdings in shares of GE Aerospace by 1.4% in the 3rd quarter. Jacobsen Capital Management now owns 2,295 shares of the company’s stock valued at $690,000 after buying an additional 32 shares during the period. Harfst & Associates Inc. lifted its holdings in GE Aerospace by 0.4% in the third quarter. Harfst & Associates Inc. now owns 7,444 shares of the company’s stock worth $2,239,000 after acquiring an additional 33 shares during the last quarter. Grove Bank & Trust boosted its stake in GE Aerospace by 1.0% in the third quarter. Grove Bank & Trust now owns 3,537 shares of the company’s stock valued at $1,064,000 after acquiring an additional 35 shares during the period. JDM Financial Group LLC boosted its stake in GE Aerospace by 12.9% in the third quarter. JDM Financial Group LLC now owns 306 shares of the company’s stock valued at $92,000 after acquiring an additional 35 shares during the period. Finally, Perkins Coie Trust Co grew its holdings in shares of GE Aerospace by 7.9% during the third quarter. Perkins Coie Trust Co now owns 492 shares of the company’s stock valued at $148,000 after purchasing an additional 36 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Sanford C. Bernstein reissued an “outperform” rating on shares of GE Aerospace in a report on Monday, October 27th. Citigroup dropped their target price on GE Aerospace from $386.00 to $378.00 and set a “buy” rating on the stock in a research report on Tuesday, January 13th. Zacks Research cut GE Aerospace from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. BNP Paribas Exane upped their price target on shares of GE Aerospace from $275.00 to $305.00 and gave the stock an “underperform” rating in a research report on Thursday, January 8th. Finally, UBS Group reaffirmed a “buy” rating and issued a $368.00 price objective (up previously from $366.00) on shares of GE Aerospace in a report on Thursday. Sixteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, GE Aerospace has an average rating of “Moderate Buy” and a consensus target price of $314.00.

GE Aerospace Trading Up 1.7%

Shares of GE stock opened at $325.45 on Tuesday. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $332.79. The firm has a market capitalization of $343.29 billion, a PE ratio of 43.45, a price-to-earnings-growth ratio of 2.22 and a beta of 1.40. The stock has a fifty day moving average of $305.25 and a two-hundred day moving average of $291.16. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.76 and a current ratio of 1.08.

GE Aerospace (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.20. The business had revenue of $11.31 billion for the quarter, compared to analysts’ expectations of $10.29 billion. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The company’s revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.15 earnings per share. As a group, research analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 26th. Shareholders of record on Monday, December 29th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, December 29th. GE Aerospace’s payout ratio is 19.23%.

Insider Buying and Selling at GE Aerospace

In other news, SVP Russell Stokes sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $297.71, for a total value of $2,381,680.00. Following the completion of the sale, the senior vice president directly owned 150,434 shares of the company’s stock, valued at approximately $44,785,706.14. This represents a 5.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.21% of the company’s stock.

GE Aerospace Company Profile

GE Aerospace (NYSE: GE) is the aerospace business of General Electric, focused on the design, manufacture and support of aircraft engines, integrated propulsion systems and related aftermarket services. The company serves commercial airlines, airframers, business and general aviation operators, and defense customers, providing propulsion solutions for a broad range of aircraft types from single‑aisle airliners to widebody and military platforms.

Its product portfolio includes a family of commercial and military jet engines as well as spare parts, components and systems engineering.