Verdence Capital Advisors LLC Has $6.30 Million Stock Position in GE Aerospace $GE

Verdence Capital Advisors LLC cut its holdings in shares of GE Aerospace (NYSE:GE) by 7.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,144 shares of the company’s stock after selling 1,674 shares during the quarter. Verdence Capital Advisors LLC’s holdings in GE Aerospace were worth $6,302,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Brighton Jones LLC grew its holdings in shares of GE Aerospace by 25.3% during the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company’s stock valued at $2,003,000 after acquiring an additional 2,421 shares in the last quarter. Revolve Wealth Partners LLC increased its position in GE Aerospace by 7.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company’s stock worth $375,000 after buying an additional 150 shares during the last quarter. Sivia Capital Partners LLC increased its position in GE Aerospace by 4.6% during the second quarter. Sivia Capital Partners LLC now owns 4,337 shares of the company’s stock worth $1,116,000 after buying an additional 191 shares during the last quarter. Annex Advisory Services LLC raised its holdings in GE Aerospace by 5.2% during the second quarter. Annex Advisory Services LLC now owns 4,075 shares of the company’s stock valued at $1,049,000 after buying an additional 202 shares in the last quarter. Finally, Lewis Asset Management LLC bought a new stake in shares of GE Aerospace during the 2nd quarter worth about $389,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Performance

Shares of NYSE GE opened at $325.45 on Tuesday. The firm has a market capitalization of $343.29 billion, a price-to-earnings ratio of 43.45, a PEG ratio of 2.22 and a beta of 1.40. GE Aerospace has a one year low of $159.36 and a one year high of $332.79. The business has a fifty day simple moving average of $305.25 and a 200 day simple moving average of $291.16. The company has a current ratio of 1.08, a quick ratio of 0.76 and a debt-to-equity ratio of 0.99.

GE Aerospace (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.20. The firm had revenue of $11.31 billion for the quarter, compared to analyst estimates of $10.29 billion. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The business’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.15 EPS. Sell-side 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 $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, December 29th. GE Aerospace’s dividend payout ratio is 19.23%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GE shares. Wall Street Zen lowered GE Aerospace from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Wolfe Research boosted their price objective on shares of GE Aerospace from $340.00 to $360.00 and gave the stock an “outperform” rating in a research note on Monday, January 12th. Jefferies Financial Group raised their target price on shares of GE Aerospace from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. JPMorgan Chase & Co. boosted their target price on shares of GE Aerospace from $275.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of GE Aerospace in a research report on Monday, October 27th. Sixteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, GE Aerospace currently has a consensus rating of “Moderate Buy” and an average target price of $314.00.

Insider Transactions at GE Aerospace

In other GE Aerospace news, SVP Russell Stokes sold 8,000 shares of GE Aerospace stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $297.71, for a total transaction of $2,381,680.00. Following the completion of the transaction, the senior vice president directly owned 150,434 shares of the company’s stock, valued at approximately $44,785,706.14. This trade represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is owned by corporate insiders.

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.