GE Aerospace $GE Stock Bought by State of Wyoming

State of Wyoming lifted its position in shares of GE Aerospace (NYSE:GE) by 252.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,278 shares of the company’s stock after buying an additional 2,347 shares during the quarter. State of Wyoming’s holdings in GE Aerospace were worth $1,024,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. GK Wealth Management LLC acquired a new stake in GE Aerospace in the 3rd quarter valued at $25,000. Paladin Partners LLC acquired a new position in shares of GE Aerospace during the second quarter worth about $38,000. Parvin Asset Management LLC acquired a new position in shares of GE Aerospace during the second quarter worth about $41,000. Clark Wealth Partners lifted its stake in shares of GE Aerospace by 70.1% during the third 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 purchased a new stake in shares of GE Aerospace in the second quarter worth about $46,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting GE Aerospace

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?

Analyst Ratings Changes

A number of analysts have recently issued reports on GE shares. Wells Fargo & Company dropped their target price on GE Aerospace from $390.00 to $380.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 30th. TD Cowen reissued a “buy” rating and issued a $380.00 price target (up from $330.00) on shares of GE Aerospace in a report on Monday, July 13th. Weiss Ratings reissued a “buy (b)” rating on shares of GE Aerospace in a report on Thursday, October 15th. UBS Group restated a “buy” rating and set a $380.00 price objective (up from $377.00) on shares of GE Aerospace in a research note on Wednesday, October 21st. Finally, Sanford C. Bernstein set a $376.00 price objective on GE Aerospace in a report on Friday, October 23rd. 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $373.45.

GE Aerospace Stock Performance

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

GE Aerospace (NYSE:GE) last released its quarterly earnings data on Tuesday, October 20th. The company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.24. The business 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 company’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.66 EPS. As a group, equities analysts anticipate that GE Aerospace will post 8.16 earnings per share for the current year.

GE Aerospace Dividend Announcement

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

About GE Aerospace

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.