Greenup Street Wealth Management LLC Buys 9,059 Shares of GE Aerospace $GE

Greenup Street Wealth Management LLC increased its stake in shares of GE Aerospace (NYSE:GE) by 939.7% in the third quarter, HoldingsChannel.com reports. The firm owned 10,023 shares of the company’s stock after buying an additional 9,059 shares during the period. Greenup Street Wealth Management LLC’s holdings in GE Aerospace were worth $3,130,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its position in GE Aerospace by 2.6% in the second quarter. State Street Corp now owns 46,497,628 shares of the company’s stock valued at $17,377,559,000 after purchasing an additional 1,160,584 shares during the period. Jennison Associates LLC boosted its position in shares of GE Aerospace by 37.7% during the first quarter. Jennison Associates LLC now owns 11,026,006 shares of the company’s stock worth $3,128,850,000 after buying an additional 3,017,937 shares during the period. Bank of America Corp DE boosted its position in shares of GE Aerospace by 10.0% during the first quarter. Bank of America Corp DE now owns 7,664,679 shares of the company’s stock worth $2,175,006,000 after buying an additional 695,731 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of GE Aerospace by 6.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,251,603 shares of the company’s stock worth $2,710,142,000 after buying an additional 427,820 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of GE Aerospace by 97.3% in the second quarter. Wellington Management Group LLP now owns 6,797,935 shares of the company’s stock valued at $2,540,592,000 after buying an additional 3,352,432 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

GE Aerospace Stock Down 3.7%

GE Aerospace stock opened at $301.58 on Friday. GE Aerospace has a twelve month low of $268.91 and a twelve month high of $388.84. The stock’s fifty day simple moving average is $317.37 and its 200-day simple moving average is $323.12. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $311.64 billion, a P/E ratio of 34.78, a P/E/G ratio of 2.13 and a beta of 1.38.

GE Aerospace (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.24. The business had revenue of $13.29 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 24.7% compared to the same quarter last year. During the same period last year, the firm earned $1.66 earnings per share. As a group, equities analysts expect that GE Aerospace will post 8.16 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Morgan Stanley reiterated 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. Vertical Research reissued a “buy” rating and set a $400.00 target price on shares of GE Aerospace in a research note on Tuesday, October 20th. Sanford C. Bernstein set a $376.00 target price on GE Aerospace in a report on Friday, October 23rd. Melius Research set a $350.00 target price on GE Aerospace and gave the company a “hold” rating in a report on Monday, September 14th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $425.00 price target on shares of GE Aerospace in a research report on Sunday, October 25th. 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 company. Based on data from MarketBeat.com, GE Aerospace has an average rating of “Moderate Buy” and an average price target of $373.45.

Key Stories Impacting GE Aerospace

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

• Positive Sentiment: GE approved NYCO’s French turbine oil for Boeing 787 GEnx-1B engines following Air France trials. The approval could support engine reliability and broaden GE’s aftermarket and maintenance opportunities. GE approves French turbine oil for Boeing 787 after Air France trials
• Positive Sentiment: A next-generation aircraft test flight over GE Aerospace’s Niskayuna, New York, research center highlights the company’s involvement in future aircraft and propulsion technologies. While not an immediate earnings catalyst, the activity reinforces GE’s long-term innovation pipeline. Future generation of planes test flight
• Positive Sentiment: GE’s engine and services businesses continue to benefit from commercial aviation demand, with analysts still recognizing the strength of its aftermarket franchise despite more cautious expectations. Is GE Aerospace Stock Worth More Than Its Competitors?

About GE Aerospace

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.