Associated Banc Corp Purchases 3,811 Shares of GE Aerospace $GE

Key Points

• Associated Banc Corp initiated a position in GE Aerospace, buying 3,811 shares worth approximately $1.19 million in the third quarter; institutional investors and hedge funds own 74.77% of the stock.
• GE Aerospace beat quarterly estimates, reporting EPS of $2.25 versus $2.01 expected and revenue of $13.29 billion, up 24.7% year over year. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $373.45.
• Commercial engine demand and a U.S. Navy turbine contract support the outlook, while updated inspection guidance following reports of premature cracks in some GEnx turbine blades adds operational uncertainty.

Associated Banc Corp purchased a new position in GE Aerospace (NYSE:GE - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,811 shares of the company's stock, valued at approximately $1,190,000.

A number of other large investors also recently modified their holdings of the business. GK Wealth Management LLC acquired a new stake in GE Aerospace in the third quarter worth approximately $25,000. Paladin Partners LLC acquired a new position in shares of GE Aerospace during the 2nd quarter valued at $38,000. Parvin Asset Management LLC bought a new stake in shares of GE Aerospace in the 2nd quarter worth $41,000. Clark Wealth Partners raised its stake in shares of GE Aerospace by 70.1% in the 3rd quarter. Clark Wealth Partners now owns 114 shares of the company's stock worth $36,000 after buying an additional 47 shares in the last quarter. Finally, Markowski Investments acquired a new stake in shares of GE Aerospace in the second quarter valued at $46,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GE has been the subject of several research reports. Royal Bank Of Canada set a $376.00 target price on GE Aerospace in a research note on Friday, October 23rd. Sanford C. Bernstein set a $376.00 price target on shares of GE Aerospace in a report on Friday, October 23rd. Guggenheim set a $380.00 price objective on GE Aerospace in a research report on Wednesday, October 21st. Melius Research set a $350.00 price target on shares of GE Aerospace and gave the company a "hold" rating in a report on Monday, September 14th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $410.00 price objective on shares of GE Aerospace in a research report on Monday, July 20th. Sixteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $373.45.

GE Aerospace Trading Up 2.9%

Shares of GE Aerospace stock opened at $329.91 on Thursday. 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 company has a market cap of $340.91 billion, a price-to-earnings ratio of 41.65, a PEG ratio of 2.18 and a beta of 1.43. The company's fifty day simple moving average is $315.88 and its 200-day simple moving average is $323.12. GE Aerospace has a 1 year low of $268.91 and a 1 year high of $388.84.

GE Aerospace (NYSE:GE - Get Free Report) last issued its 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. GE Aerospace had a return on equity of 44.43% and a net margin of 17.31%. The business had revenue of $13.29 billion during the quarter, compared to analyst estimates of $12.88 billion. During the same period in the prior year, the company posted $1.66 earnings per share. GE Aerospace's revenue was up 24.7% on a year-over-year basis. As a group, sell-side analysts expect that GE Aerospace will post 8.16 EPS for the current year.

GE Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Monday, October 5th were issued 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 dividend yield of 0.6%. GE Aerospace's dividend payout ratio (DPR) is currently 21.68%.

GE Aerospace News Roundup

Here are the key news stories impacting GE Aerospace this week:

• Positive Sentiment: GE Aerospace will supply LM2500 marine gas turbines for two U.S. Navy Flight III destroyers. The reports say the ships will use eight GE gas turbine engines in total, adding defense business and potential follow-on service work. GE Aerospace to Supply Engines for Two US Navy Flight III Destroyers
• Positive Sentiment: Commercial engine demand remains a tailwind: GE’s commercial segment is seeing strong orders and services activity for LEAP, GEnx and GE9X engines. CFM International, GE’s joint venture with Safran, also secured large LEAP engine agreements, including orders tied to IndiGo and Turkish Airlines fleets. GE's Commercial Engines Segment Gains Momentum: Can It Sustain?
• Neutral Sentiment: Call-option trading in GE was unusually active, with volume reported at 161% above its average. This may signal bullish positioning, but options activity is speculative and does not by itself confirm improved fundamentals. GE Aerospace options activity
• Negative Sentiment: GE Aerospace revised inspection guidance for certain GEnx-1B engines after a study reported premature cracks in some turbine blades. Additional checks could create maintenance and scheduling burdens for airlines and raise near-term uncertainty, although the reports do not quantify a financial impact. General Electric (GE) Updates Engine Checks After Study Flags Early Blade Cracks

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.

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