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 firm’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 transaction, the vice president directly owned 20,201 shares of the company’s stock, valued at $6,717,640.54. This represents a 42.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

GE Aerospace Stock Down 4.6%

GE traded down $15.20 during trading on Thursday, reaching $314.25. 6,541,431 shares of the stock were exchanged, compared to its average volume of 5,154,139. The stock has a market cap of $324.73 billion, a P/E ratio of 36.25, a price-to-earnings-growth ratio of 2.18 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 stock’s 50 day moving average price is $315.88 and its two-hundred day moving average price is $323.12. 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 (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 20th. The company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.24. The firm had revenue of $13.29 billion during 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 posted $1.66 earnings per share. Equities analysts expect that GE Aerospace will post 8.16 EPS for the current year.

GE Aerospace Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently commented on GE shares. Wells Fargo & Company reduced their price target on GE Aerospace from $390.00 to $380.00 and set an “overweight” rating for the company in a report on Wednesday, September 30th. Sanford C. Bernstein set a $376.00 price objective on GE Aerospace in a research note on Friday, October 23rd. Melius Research set a $350.00 price objective on GE Aerospace and gave the company a “hold” rating in a research report on Monday, September 14th. HC Wainwright set a $375.00 price objective on GE Aerospace in a research report on Wednesday, October 21st. Finally, 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. Sixteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, GE Aerospace currently 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’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

Hedge Funds Weigh In On GE Aerospace

Several large investors have recently modified their holdings of GE. GK Wealth Management LLC bought a new stake in shares of GE Aerospace during the third quarter worth approximately $25,000. Clark Wealth Partners grew its position in shares of GE Aerospace by 70.1% in 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 shares of GE Aerospace in the second quarter valued at approximately $38,000. Parvin Asset Management LLC bought a new position in shares of GE Aerospace during the second quarter worth approximately $41,000. Finally, Markowski Investments bought a new position in shares of GE Aerospace during the second quarter worth approximately $46,000. 74.77% of the stock is owned by institutional investors.

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.