GE Aerospace $GE Shares Purchased by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC grew its holdings in GE Aerospace (NYSE:GE) by 322.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,769 shares of the company’s stock after buying an additional 2,876 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in GE Aerospace were worth $1,177,000 as of its most recent filing with the SEC.

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

GE Aerospace News Roundup

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

• Positive Sentiment: GE Aerospace will supply LM2500 marine gas turbines for two U.S. Navy Flight III destroyers. The reports say the ships will use eight GE gas turbine engines in total, adding defense business and potential follow-on service work. GE Aerospace to Supply Engines for Two US Navy Flight III Destroyers
• Positive Sentiment: Commercial engine demand remains a tailwind: GE’s commercial segment is seeing strong orders and services activity for LEAP, GEnx and GE9X engines. CFM International, GE’s joint venture with Safran, also secured large LEAP engine agreements, including orders tied to IndiGo and Turkish Airlines fleets. GE’s Commercial Engines Segment Gains Momentum: Can It Sustain?
• Neutral Sentiment: Call-option trading in GE was unusually active, with volume reported at 161% above its average. This may signal bullish positioning, but options activity is speculative and does not by itself confirm improved fundamentals. GE Aerospace options activity
• Negative Sentiment: GE Aerospace revised inspection guidance for certain GEnx-1B engines after a study reported premature cracks in some turbine blades. Additional checks could create maintenance and scheduling burdens for airlines and raise near-term uncertainty, although the reports do not quantify a financial impact. General Electric (GE) Updates Engine Checks After Study Flags Early Blade Cracks

GE Aerospace Stock Up 2.9%

GE opened at $329.91 on Thursday. The firm’s 50-day simple moving average is $315.88 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 has a twelve month low of $268.91 and a twelve month high of $388.84. The firm has a market cap of $340.91 billion, a price-to-earnings ratio of 38.05, a PEG ratio of 2.18 and a beta of 1.43.

GE Aerospace (NYSE:GE) last announced its quarterly earnings results 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. GE Aerospace had a net margin of 17.31% and a return on equity of 44.43%. The firm had revenue of $13.29 billion during the quarter, compared to the consensus estimate of $12.88 billion. During the same period last year, the firm posted $1.66 EPS. The firm’s quarterly revenue was up 24.7% on a year-over-year basis. Equities research analysts anticipate that GE Aerospace will post 8.16 EPS for the current fiscal year.

GE Aerospace Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Aerospace in a report on Thursday, October 15th. TD Cowen reissued a “buy” rating and issued a $380.00 target price (up from $330.00) on shares of GE Aerospace in a report on Monday, July 13th. JPMorgan Chase & Co. dropped their target price on GE Aerospace from $400.00 to $375.00 and set an “overweight” rating for the company in a report on Wednesday, October 21st. Vertical Research restated a “buy” rating and set a $400.00 target price on shares of GE Aerospace in a research report on Tuesday, October 20th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $378.00 price target on shares of GE Aerospace in a research note on Wednesday, October 21st. Sixteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, GE Aerospace has a consensus rating of “Moderate Buy” and an average price target of $373.45.

GE Aerospace 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.