GE Aerospace $GE Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund decreased its position in GE Aerospace (NYSE:GE) by 9.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 24,072 shares of the company’s stock after selling 2,390 shares during the period. Illinois Municipal Retirement Fund’s holdings in GE Aerospace were worth $7,517,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Bahl & Gaynor LLC increased its stake in shares of GE Aerospace by 37.4% in the third quarter. Bahl & Gaynor LLC now owns 262,215 shares of the company’s stock valued at $81,887,000 after purchasing an additional 71,432 shares during the period. Northbridge Financial Group LLC raised its holdings in shares of GE Aerospace by 6.6% during the third quarter. Northbridge Financial Group LLC now owns 2,387 shares of the company’s stock valued at $739,000 after buying an additional 148 shares during the last quarter. AMG National Trust Bank boosted its position in shares of GE Aerospace by 2.8% during the third quarter. AMG National Trust Bank now owns 10,549 shares of the company’s stock worth $3,294,000 after buying an additional 289 shares during the period. Moneco Advisors LLC boosted its position in shares of GE Aerospace by 0.9% during the third quarter. Moneco Advisors LLC now owns 5,091 shares of the company’s stock worth $1,590,000 after buying an additional 46 shares during the period. Finally, Mesirow Financial Investment Management Inc. boosted its position in shares of GE Aerospace by 1.0% during the third quarter. Mesirow Financial Investment Management Inc. now owns 15,637 shares of the company’s stock worth $4,883,000 after buying an additional 154 shares during the period. Institutional investors own 74.77% of the company’s stock.

More GE Aerospace News

These are some of the GE news items that stood out recently:

• Positive Sentiment: Commentary points to robust engine demand, defense contracts and higher earnings estimates, while GE is trading above its 50-day and 200-day moving averages. These factors may support the growth outlook, though the article does not report a new contract or forecast change. Article
• Positive Sentiment: The State Street Industrial Select Sector SPDR (XLI) added GE to its holdings, a modest potential source of fund demand. The report does not specify how much GE stock the fund purchased. Article
• Neutral Sentiment: Doncasters acquired a 50% stake in Montana Precision Products, becoming a 50/50 joint-venture partner with Unison Industries, a GE Aerospace company. MPP supplies components for GE engine platforms, so the ownership change could affect sourcing and production coordination; the reports disclose no financial terms or immediate operational impact. Article

Insider Transactions at GE Aerospace

In other GE Aerospace news, VP Robert Giglietti sold 14,796 shares of the stock in a transaction on Wednesday, November 4th. The stock was 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 approximately $6,717,640.54. This trade represents a 42.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

GE has been the topic of several analyst reports. Wells Fargo & Company lowered 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. Sanford C. Bernstein set a $376.00 target price on GE Aerospace in a research note on Friday, October 23rd. Morgan Stanley reiterated an “overweight” rating and set a $375.00 price target (down from $400.00) on shares of GE Aerospace in a research report on Wednesday, October 21st. Susquehanna decreased their price target on GE Aerospace from $430.00 to $400.00 and set a “positive” rating for the company in a research note on Wednesday, October 21st. Finally, Melius Research set a $350.00 price target on GE Aerospace and gave the company a “hold” rating in a report on Monday, September 14th. Sixteen equities research 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $373.45.

GE Aerospace Trading Down 3.6%

Shares of NYSE:GE opened at $330.56 on Friday. The company has a 50 day moving average of $314.84 and a 200-day moving average of $323.85. 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 firm has a market cap of $341.58 billion, a P/E ratio of 44.51, a P/E/G ratio of 2.33 and a beta of 1.43. GE Aerospace has a twelve month low of $268.91 and a twelve month high of $388.84.

GE Aerospace (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 20th. The company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.24. GE Aerospace had a net margin of 17.31% and a return on equity of 44.43%. The business had revenue of $13.29 billion for the quarter, compared to analyst estimates of $12.88 billion. During the same quarter last year, the business earned $1.66 earnings per share. The business’s revenue for the quarter was up 24.7% on a year-over-year basis. As a group, analysts anticipate that GE Aerospace will post 8.16 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, October 5th. GE Aerospace’s dividend payout ratio (DPR) 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.