Candriam S.C.A. Buys 12,091 Shares of GE Aerospace $GE

Candriam S.C.A. boosted its stake in shares of GE Aerospace (NYSE:GE) by 8.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,296 shares of the company’s stock after acquiring an additional 12,091 shares during the quarter. Candriam S.C.A.’s holdings in GE Aerospace were worth $49,301,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GE. Richard Young Associates Ltd. increased its stake in shares of GE Aerospace by 8.2% in the third quarter. Richard Young Associates Ltd. now owns 1,983 shares of the company’s stock valued at $619,000 after buying an additional 150 shares in the last quarter. American State Bank Iowa lifted its position in shares of GE Aerospace by 4.0% during the third quarter. American State Bank Iowa now owns 8,819 shares of the company’s stock worth $2,754,000 after purchasing an additional 341 shares in the last quarter. Cullinan Associates Inc. lifted its position in shares of GE Aerospace by 5.5% during the third quarter. Cullinan Associates Inc. now owns 5,462 shares of the company’s stock worth $1,706,000 after purchasing an additional 286 shares in the last quarter. Cooper Haims Advisors LLC grew its stake in shares of GE Aerospace by 7.6% during the third quarter. Cooper Haims Advisors LLC now owns 1,008 shares of the company’s stock valued at $315,000 after purchasing an additional 71 shares during the last quarter. Finally, Ethic Inc. grew its stake in shares of GE Aerospace by 5.4% during the third quarter. Ethic Inc. now owns 76,847 shares of the company’s stock valued at $23,998,000 after purchasing an additional 3,904 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GE. Morgan Stanley reissued an “overweight” rating and issued a $375.00 price target (down from $400.00) on shares of GE Aerospace in a report on Wednesday, October 21st. JPMorgan Chase & Co. reduced 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. Vertical Research reiterated a “buy” rating and issued a $400.00 price objective on shares of GE Aerospace in a research report on Tuesday, October 20th. Royal Bank Of Canada set a $376.00 price objective on GE Aerospace in a research report on Friday, October 23rd. Finally, BNP Paribas Exane lowered their target price on GE Aerospace from $305.00 to $280.00 and set an “underperform” rating for the company in a research note on Wednesday, October 21st. Sixteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $373.45.

Key GE Aerospace News

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

Insiders Place Their Bets

In related news, VP Robert Giglietti sold 14,796 shares of the company’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $332.54, for a total value of $4,920,261.84. Following the completion of the transaction, the vice president directly owned 20,201 shares of the company’s stock, valued at approximately $6,717,640.54. This represents a 42.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.19% of the company’s stock.

GE Aerospace Stock Performance

Shares of GE opened at $323.54 on Friday. The firm has a market cap of $334.33 billion, a P/E ratio of 37.32, a PEG ratio of 2.20 and a beta of 1.43. GE Aerospace has a twelve month low of $268.91 and a twelve month high of $388.84. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.68 and a current ratio of 0.98. The firm’s 50 day moving average price is $314.70 and its two-hundred day moving average price is $323.12.

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

GE Aerospace Dividend Announcement

The business also recently announced 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 of this dividend was Monday, October 5th. This represents a $1.88 dividend on an annualized basis and a yield of 0.6%. GE Aerospace’s dividend payout ratio is presently 21.68%.

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.