PNC Financial Services Group Inc. Acquires 10,640 Shares of GE Aerospace $GE

PNC Financial Services Group Inc. boosted its holdings in shares of GE Aerospace (NYSE:GE) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 953,912 shares of the company’s stock after acquiring an additional 10,640 shares during the period. PNC Financial Services Group Inc. owned 0.09% of GE Aerospace worth $286,956,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of GE Aerospace by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 91,989,511 shares of the company’s stock worth $23,677,180,000 after buying an additional 1,482,069 shares during the last quarter. State Street Corp boosted its holdings in GE Aerospace by 1.4% in the second quarter. State Street Corp now owns 44,268,912 shares of the company’s stock worth $11,394,375,000 after acquiring an additional 613,866 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of GE Aerospace by 3.1% in the second quarter. Geode Capital Management LLC now owns 24,113,967 shares of the company’s stock worth $6,181,956,000 after acquiring an additional 724,559 shares during the last quarter. Norges Bank bought a new position in shares of GE Aerospace during the second quarter valued at $3,408,828,000. Finally, Jennison Associates LLC raised its position in shares of GE Aerospace by 21.5% in the 3rd quarter. Jennison Associates LLC now owns 8,430,878 shares of the company’s stock worth $2,536,177,000 after purchasing an additional 1,494,541 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GE shares. Wall Street Zen upgraded shares of GE Aerospace from a “hold” rating to a “buy” rating in a research note on Saturday, January 24th. Susquehanna reaffirmed a “positive” rating and issued a $380.00 price objective on shares of GE Aerospace in a research report on Thursday, January 15th. UBS Group set a $374.00 target price on GE Aerospace and gave the company a “buy” rating in a research note on Friday, January 23rd. Zacks Research raised GE Aerospace from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 27th. Finally, Wolfe Research upped their target price on shares of GE Aerospace from $340.00 to $360.00 and gave the company an “outperform” rating in a research note on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $319.00.

Insider Buying and Selling

In other news, VP Robert M. Giglietti sold 3,035 shares of GE Aerospace stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $305.51, for a total transaction of $927,222.85. Following the transaction, the vice president directly owned 10,583 shares of the company’s stock, valued at $3,233,212.33. The trade was a 22.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Russell Stokes sold 30,363 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $306.47, for a total value of $9,305,348.61. Following the transaction, the senior vice president owned 150,434 shares of the company’s stock, valued at approximately $46,103,507.98. This trade represents a 16.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 45,398 shares of company stock valued at $13,837,171. 0.21% of the stock is owned by company insiders.

GE Aerospace Trading Up 0.8%

GE Aerospace stock opened at $315.24 on Friday. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $332.79. The company has a market cap of $330.63 billion, a P/E ratio of 38.73, a P/E/G ratio of 2.91 and a beta of 1.40. The company has a quick ratio of 0.74, a current ratio of 1.04 and a debt-to-equity ratio of 1.00. The business has a 50-day simple moving average of $309.55 and a two-hundred day simple moving average of $297.22.

GE Aerospace (NYSE:GE) last issued its quarterly earnings data on Thursday, January 22nd. The company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.14. The firm had revenue of $11.90 billion for the quarter, compared to analysts’ expectations of $11.27 billion. GE Aerospace had a net margin of 18.98% and a return on equity of 35.52%. The business’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.32 EPS. GE Aerospace has set its FY 2026 guidance at 7.100-7.400 EPS. Analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 27th. Stockholders of record on Monday, March 9th will be paid a $0.47 dividend. This is a positive change from GE Aerospace’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, March 9th. This represents a $1.88 annualized dividend and a dividend yield of 0.6%. GE Aerospace’s dividend payout ratio (DPR) is currently 23.10%.

About GE Aerospace

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.