Comerica Bank Decreases Stock Position in GE Aerospace (NYSE:GE)

Comerica Bank cut its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 4.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 209,528 shares of the company's stock after selling 8,989 shares during the quarter. Comerica Bank's holdings in GE Aerospace were worth $34,947,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. New Age Alpha Advisors LLC boosted its holdings in shares of GE Aerospace by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after acquiring an additional 84 shares during the period. Hager Investment Management Services LLC bought a new position in GE Aerospace in the 4th quarter worth about $27,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in GE Aerospace during the 4th quarter valued at about $28,000. Sugar Maple Asset Management LLC bought a new stake in shares of GE Aerospace during the fourth quarter valued at about $29,000. Finally, CBIZ Investment Advisory Services LLC purchased a new stake in shares of GE Aerospace in the fourth quarter worth about $29,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at GE Aerospace

In related news, VP Robert M. Giglietti sold 4,104 shares of the company's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the completion of the sale, the vice president now directly owns 11,540 shares in the company, valued at $2,270,264.20. This represents a 26.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Redburn Atlantic began coverage on shares of GE Aerospace in a research note on Tuesday, February 18th. They set a "buy" rating and a $250.00 price objective for the company. Citigroup decreased their price target on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Northcoast Research raised GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 price objective for the company in a research note on Wednesday, April 9th. Royal Bank of Canada restated an "outperform" rating and issued a $220.00 target price on shares of GE Aerospace in a research note on Wednesday, April 23rd. Finally, UBS Group lifted their price target on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, GE Aerospace has a consensus rating of "Moderate Buy" and a consensus target price of $216.92.

GE Aerospace Stock Up 0.5 %

Shares of GE opened at $201.53 on Thursday. The firm has a market cap of $214.91 billion, a P/E ratio of 33.64, a P/E/G ratio of 2.59 and a beta of 1.04. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $214.21. The stock has a 50 day simple moving average of $194.04 and a two-hundred day simple moving average of $186.92. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

GE Aerospace (NYSE:GE - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.29 by $0.20. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. On average, analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, March 10th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Monday, March 10th. This is a positive change from GE Aerospace's previous quarterly dividend of $0.28. GE Aerospace's payout ratio is 22.40%.

GE Aerospace Profile

GE Aerospace (also known as General Electric) is a company that specializes in providing aerospace products and services. It operates through two reportable segments: Commercial Engines and Services and Defense and Propulsion Technologies. It offers jet and turboprop engines, as well as integrated systems for commercial, military, business, and general aviation aircraft.

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