GE Aerospace $GE Stock Position Trimmed by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC trimmed its position in shares of GE Aerospace (NYSE:GE) by 23.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,137 shares of the company’s stock after selling 4,518 shares during the period. Verdence Capital Advisors LLC’s holdings in GE Aerospace were worth $4,727,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. WealthCare Asset Management LLC bought a new position in GE Aerospace during the 3rd quarter valued at $735,000. Flagship Harbor Advisors LLC raised its stake in GE Aerospace by 3.5% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 10,990 shares of the company’s stock valued at $3,432,000 after acquiring an additional 369 shares in the last quarter. Westover Capital Advisors LLC lifted its stake in shares of GE Aerospace by 19.8% in the 3rd quarter. Westover Capital Advisors LLC now owns 1,652 shares of the company’s stock worth $516,000 after acquiring an additional 273 shares during the period. Peterson Wealth Services boosted its stake in GE Aerospace by 94.7% during the third quarter. Peterson Wealth Services now owns 440 shares of the company’s stock valued at $137,000 after buying an additional 214 shares in the last quarter. Finally, Leo Wealth LLC bought a new position in shares of GE Aerospace during the 3rd quarter valued at about $324,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on GE. Susquehanna decreased their target price on GE Aerospace from $430.00 to $400.00 and set a “positive” rating on the stock in a report on Wednesday, October 21st. Guggenheim set a $380.00 price target on shares of GE Aerospace in a report on Wednesday, October 21st. JPMorgan Chase & Co. dropped their price objective on GE Aerospace from $400.00 to $375.00 and set an “overweight” rating on the stock in a report on Wednesday, October 21st. Melius Research set a $350.00 target price on GE Aerospace and gave the company a “hold” rating in a report on Monday, September 14th. Finally, TD Cowen restated a “buy” rating and issued a $380.00 price objective (up from $330.00) on shares of GE Aerospace in a research note on Monday, July 13th. Sixteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, GE Aerospace presently has an average rating of “Moderate Buy” and a consensus target price of $373.45.

GE Aerospace Stock Performance

GE opened at $288.70 on Tuesday. The stock has a market cap of $298.33 billion, a PE ratio of 33.30, a P/E/G ratio of 1.95 and a beta of 1.38. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.96. The stock’s 50 day simple moving average is $323.58 and its 200-day simple moving average is $323.67. 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, beating analysts’ consensus estimates of $2.01 by $0.24. GE Aerospace had a return on equity of 44.43% and a net margin of 17.31%. The company had revenue of $13.29 billion for the quarter, compared to the consensus estimate of $12.88 billion. During the same period in the previous year, the business earned $1.66 earnings per share. The company’s quarterly revenue was up 24.7% on a year-over-year basis. Sell-side analysts forecast that GE Aerospace will post 8.15 EPS for the current year.

GE Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Monday, October 5th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, October 5th. GE Aerospace’s dividend payout ratio (DPR) is currently 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.