GE Aerospace (NYSE:GE) Stock: Insider Robert Giglietti Sells 14,796 Shares

GE Aerospace (NYSE:GE) VP Robert Giglietti sold 14,796 shares of the stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $332.54, for a total transaction of $4,920,261.84. Following the completion of the sale, the vice president directly owned 20,201 shares of the company’s stock, valued at $6,717,640.54. This trade represents a 42.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

GE Aerospace Stock Down 4.6%

Shares of GE traded down $15.20 during mid-day trading on Thursday, reaching $314.25. 6,541,431 shares of the stock traded hands, compared to its average volume of 5,154,139. The firm has a market cap of $324.73 billion, a price-to-earnings ratio of 36.25, a P/E/G ratio of 2.18 and a beta of 1.43. The stock has a fifty day simple moving average of $315.88 and a 200 day simple moving average of $323.12. GE Aerospace has a 12-month low of $268.91 and a 12-month high of $388.84. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.96.

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

GE Aerospace Announces Dividend

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

GE Aerospace News Summary

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

• Positive Sentiment: GE’s roughly $170 billion commercial-services backlog could benefit from airlines keeping older aircraft in service longer, supporting recurring maintenance revenue. The company also recently reported quarterly revenue and earnings above analyst expectations.
• Positive Sentiment: GE Aerospace will supply gas-turbine engines for two U.S. Navy destroyers, adding defense work and potential follow-on maintenance revenue. GE Aerospace to Supply Engines for Two US Navy Flight III Destroyers
• Positive Sentiment: A Zacks technical analysis reported that GE had moved above its 200-day moving average, a potentially supportive long-term trend signal. GE Aerospace Recently Broke Out Above the 200-Day Moving Average
• Neutral Sentiment: Call-option trading was unusually active, but that activity alone does not confirm a sustained bullish view.
• Negative Sentiment: GE updated inspection guidance for certain GEnx-1B engines after research flagged premature turbine-blade cracks. More checks may create operational complications for airlines and uncertainty about costs and engine availability, even as they could support service demand. General Electric Updates Engine Checks After Study Flags Early Blade Cracks
• Negative Sentiment: Exchange-traded funds were net sellers of GE shares on Nov. 3, a modest near-term source of selling pressure. ETFs Are Net Sellers of General Electric on Nov. 3

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. BNP Paribas Exane dropped their price objective on GE Aerospace from $305.00 to $280.00 and set an “underperform” rating on the stock in a report on Wednesday, October 21st. Morgan Stanley reiterated an “overweight” rating and set a $375.00 target price (down from $400.00) on shares of GE Aerospace in a research note on Wednesday, October 21st. Royal Bank Of Canada set a $376.00 target price on GE Aerospace in a research note on Friday, October 23rd. Sanford C. Bernstein set a $376.00 price target on shares of GE Aerospace in a research report on Friday, October 23rd. Finally, Jefferies Financial Group restated a “buy” rating and issued a $425.00 price target on shares of GE Aerospace in a research note on Sunday, October 25th. 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $373.45.

Hedge Funds Weigh In On GE Aerospace

Large investors have recently modified their holdings of the stock. GK Wealth Management LLC acquired a new stake in shares of GE Aerospace in the third quarter valued at about $25,000. Clark Wealth Partners boosted 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 acquired a new position in GE Aerospace during the second quarter valued at approximately $38,000. Parvin Asset Management LLC acquired a new position in GE Aerospace during the second quarter valued at approximately $41,000. Finally, Markowski Investments bought a new position in GE Aerospace in the second quarter valued at approximately $46,000. Institutional investors own 74.77% of the company’s stock.

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.