Pictet Asset Management Holding SA Buys 65,873 Shares of GE Aerospace $GE

Pictet Asset Management Holding SA boosted its position in GE Aerospace (NYSE:GE) by 12.4% during the third quarter, Holdings Channel reports. The fund owned 597,636 shares of the company’s stock after acquiring an additional 65,873 shares during the period. Pictet Asset Management Holding SA’s holdings in GE Aerospace were worth $186,636,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GE. GK Wealth Management LLC purchased a new position in shares of GE Aerospace in the 3rd quarter worth about $25,000. Clark Wealth Partners increased its position in shares of GE Aerospace by 70.1% during the 3rd quarter. Clark Wealth Partners now owns 114 shares of the company’s stock valued at $36,000 after purchasing an additional 47 shares during the last quarter. Paladin Partners LLC purchased a new position in shares of GE Aerospace during the 2nd quarter valued at about $38,000. Parvin Asset Management LLC purchased a new position in shares of GE Aerospace during the 2nd quarter valued at about $41,000. Finally, Markowski Investments bought a new stake in GE Aerospace in the 2nd quarter worth approximately $46,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Up 0.1%

Shares of NYSE:GE opened at $323.54 on Monday. The stock has a market capitalization 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 stock’s 50-day moving average price is $314.70 and its 200-day moving average price 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. GE Aerospace has a 12-month low of $268.91 and a 12-month high of $388.84.

GE Aerospace (NYSE:GE) last released its earnings results on Tuesday, October 20th. The company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.24. GE Aerospace had a return on equity of 44.43% and a net margin of 17.31%. The company had revenue of $13.29 billion during the quarter, compared to analyst estimates of $12.88 billion. During the same quarter in the previous year, the company posted $1.66 EPS. GE Aerospace’s revenue for the quarter was up 24.7% on a year-over-year basis. On average, equities analysts anticipate that GE Aerospace will post 8.16 earnings per share for the current year.

GE Aerospace Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, October 5th. GE Aerospace’s dividend payout ratio (DPR) is presently 21.68%.

Insider Buying and Selling

In other GE Aerospace news, VP Robert Giglietti sold 14,796 shares of GE Aerospace stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $332.54, for a total value of $4,920,261.84. Following the transaction, the vice president directly owned 20,201 shares of the company’s stock, valued at $6,717,640.54. The trade was a 42.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GE has been the subject of several research reports. Guggenheim set a $380.00 target price on GE Aerospace in a research note on Wednesday, October 21st. Susquehanna reduced their price target on shares of GE Aerospace from $430.00 to $400.00 and set a “positive” rating on the stock in a research report on Wednesday, October 21st. HC Wainwright set a $375.00 price target on shares of GE Aerospace in a research note on Wednesday, October 21st. UBS Group reissued a “buy” rating and set a $380.00 price target (up from $377.00) on shares of GE Aerospace in a research note on Wednesday, October 21st. Finally, Melius Research set a $350.00 price objective on shares of GE Aerospace and gave the stock a “hold” rating in a report on Monday, September 14th. Sixteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $373.45.

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

About GE Aerospace

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.