GE Aerospace $GE Stake Lessened by Heritage Investors Management Corp

Heritage Investors Management Corp lowered its stake in shares of GE Aerospace (NYSE:GE) by 10.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 18,358 shares of the company’s stock after selling 2,067 shares during the period. Heritage Investors Management Corp’s holdings in GE Aerospace were worth $5,733,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its holdings in GE Aerospace by 2.6% in the second quarter. State Street Corp now owns 46,497,628 shares of the company’s stock worth $17,377,559,000 after buying an additional 1,160,584 shares during the period. Jennison Associates LLC boosted its position in GE Aerospace by 37.7% during the 1st quarter. Jennison Associates LLC now owns 11,026,006 shares of the company’s stock valued at $3,128,850,000 after acquiring an additional 3,017,937 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of GE Aerospace by 10.0% during the 1st quarter. Bank of America Corp DE now owns 7,664,679 shares of the company’s stock worth $2,175,006,000 after acquiring an additional 695,731 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of GE Aerospace by 6.3% during the 2nd 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 acquiring an additional 427,820 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of GE Aerospace by 97.3% during the 2nd quarter. Wellington Management Group LLP now owns 6,797,935 shares of the company’s stock worth $2,540,592,000 after acquiring an additional 3,352,432 shares during the period. 74.77% of the stock is owned by institutional investors.

GE Aerospace Price Performance

Shares of NYSE GE opened at $301.58 on Monday. The company has a 50 day simple moving average of $317.37 and a two-hundred day simple moving average of $323.12. GE Aerospace has a fifty-two week low of $268.91 and a fifty-two week high of $388.84. The company has a market capitalization of $311.64 billion, a price-to-earnings ratio of 34.78, a P/E/G ratio of 2.05 and a beta of 1.43. 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) last issued its quarterly earnings results on Tuesday, October 20th. The company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.24. The firm 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 business’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.66 EPS. Analysts expect that GE Aerospace will post 8.16 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Monday, October 5th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, October 5th. GE Aerospace’s dividend payout ratio (DPR) is 21.68%.

GE Aerospace News Summary

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?

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. BNP Paribas Exane decreased their target price on GE Aerospace from $305.00 to $280.00 and set an “underperform” rating for the company in a research report on Wednesday, October 21st. Morgan Stanley restated an “overweight” rating and set a $375.00 price target (down from $400.00) on shares of GE Aerospace in a research report on Wednesday, October 21st. Sanford C. Bernstein set a $376.00 price target on GE Aerospace in a research report on Friday, October 23rd. Royal Bank Of Canada set a $376.00 price target on GE Aerospace in a research note on Friday, October 23rd. Finally, UBS Group reiterated a “buy” rating and issued a $380.00 price objective (up from $377.00) on shares of GE Aerospace in a report on Wednesday, October 21st. Sixteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $373.45.

GE Aerospace Company Profile

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.