GE Aerospace $GE Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Reduces Stake

VIRGINIA RETIREMENT SYSTEMS ET Al decreased its holdings in shares of GE Aerospace (NYSE:GE) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 204,500 shares of the company’s stock after selling 12,080 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in GE Aerospace were worth $63,863,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GE. GK Wealth Management LLC purchased a new stake in GE Aerospace in the third quarter valued at approximately $25,000. Clark Wealth Partners lifted its position in GE Aerospace by 70.1% during the third 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 GE Aerospace in the 2nd quarter worth approximately $38,000. Parvin Asset Management LLC purchased a new position in GE Aerospace in the 2nd quarter worth approximately $41,000. Finally, Markowski Investments purchased a new position 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GE shares. Sanford C. Bernstein set a $376.00 price target on shares of GE Aerospace in a report on Friday, October 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Aerospace in a report on Thursday, October 15th. Guggenheim set a $380.00 target price on shares of GE Aerospace in a research report on Wednesday, October 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $378.00 target price on shares of GE Aerospace in a research note on Wednesday, October 21st. Finally, HC Wainwright set a $375.00 price target on GE Aerospace in a research report on Wednesday, October 21st. Sixteen 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $373.45.

Key GE Aerospace News

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?

GE Aerospace Stock Performance

NYSE:GE opened at $301.58 on Friday. The business has a 50 day moving average of $317.37 and a 200 day moving average of $323.12. The company has a market capitalization of $311.64 billion, a price-to-earnings ratio of 34.78, a PEG ratio of 2.13 and a beta of 1.38. GE Aerospace has a 1-year low of $268.91 and a 1-year high of $388.84. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.98 and a quick ratio of 0.68.

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

GE Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Monday, October 5th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, October 5th. GE Aerospace’s payout ratio is presently 21.68%.

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.