GE Aerospace $GE Stock: Maryland State Retirement & Pension System Raises Holdings

Maryland State Retirement & Pension System raised its holdings in GE Aerospace (NYSE:GE) by 13.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 63,218 shares of the company’s stock after acquiring an additional 7,566 shares during the period. Maryland State Retirement & Pension System’s holdings in GE Aerospace were worth $19,742,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Cabot Wealth Management Inc. increased its stake in shares of GE Aerospace by 6.5% during the 3rd quarter. Cabot Wealth Management Inc. now owns 1,600 shares of the company’s stock valued at $500,000 after acquiring an additional 98 shares during the last quarter. UNIVEST FINANCIAL Corp lifted its holdings in shares of GE Aerospace by 11.2% during the 3rd quarter. UNIVEST FINANCIAL Corp now owns 2,932 shares of the company’s stock worth $916,000 after acquiring an additional 295 shares during the period. Joel Isaacson & Co. LLC boosted its position in shares of GE Aerospace by 4.1% in the third quarter. Joel Isaacson & Co. LLC now owns 9,047 shares of the company’s stock worth $2,825,000 after acquiring an additional 359 shares during the last quarter. Jacobi Capital Management LLC grew its holdings in GE Aerospace by 0.8% in the third quarter. Jacobi Capital Management LLC now owns 4,669 shares of the company’s stock valued at $1,458,000 after purchasing an additional 38 shares during the period. Finally, First Command Advisory Services Inc. grew its holdings in GE Aerospace by 15.1% in the third quarter. First Command Advisory Services Inc. now owns 2,998 shares of the company’s stock valued at $936,000 after purchasing an additional 394 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Performance

NYSE GE opened at $342.28 on Thursday. The firm has a market capitalization of $353.69 billion, a P/E ratio of 39.48, a P/E/G ratio of 2.30 and a beta of 1.43. GE Aerospace has a 1-year low of $268.91 and a 1-year high of $388.84. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.98 and a quick ratio of 0.68. The business’s 50-day simple moving average is $314.82 and its 200-day simple moving average is $323.67.

GE Aerospace (NYSE:GE) last posted its earnings results on Tuesday, October 20th. The company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.24. The firm had revenue of $13.29 billion during the quarter, compared to the consensus estimate 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 was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.66 EPS. Equities analysts predict that GE Aerospace will post 8.16 EPS for the current year.

GE Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Shareholders of record on Monday, October 5th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, October 5th. GE Aerospace’s payout ratio is currently 21.68%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GE shares. UBS Group reaffirmed a “buy” rating and set a $380.00 price target (up from $377.00) on shares of GE Aerospace in a research report on Wednesday, October 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Aerospace in a report on Thursday, October 15th. Guggenheim set a $380.00 price objective on shares of GE Aerospace in a research note on Wednesday, October 21st. HC Wainwright set a $375.00 price objective on shares of GE Aerospace in a research note on Wednesday, October 21st. Finally, Morgan Stanley restated an “overweight” rating and set a $375.00 price objective (down from $400.00) on shares of GE Aerospace in a report on Wednesday, October 21st. Sixteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, GE Aerospace has an average rating of “Moderate Buy” and a consensus target price of $373.45.

Key Stories Impacting GE Aerospace

Investors following GE have been watching these stories:

• Positive Sentiment: The State Street Industrial Select Sector SPDR (XLI) added GE on Nov. 9 as part of a broad purchase that lifted all 83 fund holdings. This may provide some buying support, although the fund’s activity was not specific to GE. State Street Industrial Select Sector SPDR Adds GE and CAT
• Positive Sentiment: TipRanks highlighted GE among three mega-cap companies with a “Perfect 10” Smart Score, a favorable signal from that platform’s rating system, though not a company-specific earnings catalyst. 3 Mega-Cap Stocks with a Perfect 10 Smart Score
• Neutral Sentiment: GE Aerospace donated more than $1 million to veteran and military charities in the U.S. and U.K.; this is positive for its community profile but is unlikely to materially affect the shares. GE Aerospace Donates More Than $1M to Veteran and Military Charities

Insider Transactions at GE Aerospace

In other GE Aerospace news, VP Robert Giglietti sold 14,796 shares of the business’s stock in a transaction that occurred 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 directly owned 20,201 shares in the company, valued at $6,717,640.54. The trade was a 42.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

GE Aerospace Profile

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.