CenterBook Partners LP Acquires New Holdings in GE Aerospace $GE

CenterBook Partners LP bought a new position in GE Aerospace (NYSE:GE) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 28,688 shares of the company’s stock, valued at approximately $8,959,000.

Several other large investors have also recently bought and sold shares of GE. GK Wealth Management LLC bought a new stake in shares of GE Aerospace during the 3rd quarter valued at about $25,000. Paladin Partners LLC bought a new stake in GE Aerospace in the 2nd quarter worth $38,000. Parvin Asset Management LLC bought a new position in GE Aerospace during the 2nd quarter valued at approximately $41,000. Clark Wealth Partners raised its holdings in GE Aerospace by 70.1% in the 3rd quarter. Clark Wealth Partners now owns 114 shares of the company’s stock worth $36,000 after purchasing an additional 47 shares in the last quarter. Finally, Markowski Investments bought a new stake in shares of GE Aerospace during the second quarter valued at approximately $46,000. 74.77% of the stock is owned by institutional investors.

GE Aerospace Stock Performance

Shares of GE Aerospace stock traded up $8.81 during trading hours on Friday, reaching $323.54. 5,306,018 shares of the stock traded hands, compared to its average volume of 5,237,439. The company has a 50 day moving average price of $314.70 and a 200 day moving average price of $323.12. The firm has a market capitalization of $334.33 billion, a price-to-earnings ratio of 37.32, a P/E/G ratio of 2.15 and a beta of 1.43. GE Aerospace has a one year low of $268.91 and a one year 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 issued its quarterly earnings data on Tuesday, October 20th. The company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.24. The firm had revenue of $13.29 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.66 EPS. On average, equities research analysts expect that GE Aerospace will post 8.16 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

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

Insider Buying and Selling at GE Aerospace

In other news, VP Robert Giglietti sold 14,796 shares of the business’s stock in a transaction 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 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 legal filing with the SEC, which is available at this link. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GE has been the topic of several recent research reports. UBS Group restated a “buy” rating and issued a $380.00 price target (up from $377.00) on shares of GE Aerospace in a research note on Wednesday, October 21st. Melius Research set a $350.00 target price on shares of GE Aerospace and gave the company a “hold” rating in a research note on Monday, September 14th. BNP Paribas Exane dropped their price target on shares of 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 restated an “overweight” rating and set a $375.00 price objective (down from $400.00) on shares of GE Aerospace in a research report on Wednesday, October 21st. Finally, Vertical Research restated a “buy” rating and issued a $400.00 target price on shares of GE Aerospace in a report on Tuesday, October 20th. 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $373.45.

Key Headlines Impacting GE Aerospace

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.