Cresset Asset Management LLC Sells 55,409 Shares of GE Aerospace (NYSE:GE)

Cresset Asset Management LLC reduced its position in shares of GE Aerospace (NYSE:GE - Free Report) by 73.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,400 shares of the company's stock after selling 55,409 shares during the quarter. Cresset Asset Management LLC's holdings in GE Aerospace were worth $3,406,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Capital Advantage Inc. acquired a new stake in GE Aerospace in the 4th quarter valued at about $203,000. BOKF NA lifted its position in shares of GE Aerospace by 6.1% in the fourth quarter. BOKF NA now owns 10,802 shares of the company's stock valued at $1,855,000 after buying an additional 622 shares during the last quarter. BlueSpruce Investments LP bought a new position in shares of GE Aerospace during the 4th quarter worth approximately $744,000. Bridgefront Capital LLC acquired a new position in shares of GE Aerospace during the 4th quarter worth approximately $277,000. Finally, Bulltick Wealth Management LLC bought a new stake in GE Aerospace in the 4th quarter valued at $908,000. Institutional investors and hedge funds own 74.77% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on GE. Wells Fargo & Company upped their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Royal Bank of Canada reissued an "outperform" rating and issued a $220.00 price target on shares of GE Aerospace in a report on Wednesday, April 23rd. Citigroup reduced their price objective on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Northcoast Research upgraded GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 target price on the stock in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. boosted their price target on GE Aerospace from $190.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $216.92.

Insider Buying and Selling at GE Aerospace

In other news, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the transaction, the senior vice president now directly owns 8,805 shares in the company, valued at approximately $1,766,899.35. This represents a 15.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the transaction, the vice president now owns 11,540 shares of the company's stock, valued at $2,270,264.20. The trade was a 26.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

GE Aerospace Trading Up 2.2 %

Shares of GE Aerospace stock opened at $214.64 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $216.80. The company has a market capitalization of $228.89 billion, a price-to-earnings ratio of 35.83, a PEG ratio of 2.59 and a beta of 1.31. The firm's 50-day moving average price is $194.92 and its two-hundred day moving average price is $187.61.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.20. The business had revenue of $9.94 billion for the quarter, compared to analysts' expectations 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, March 10th were paid a $0.36 dividend. The ex-dividend date was Monday, March 10th. This is a positive change from GE Aerospace's previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.67%. GE Aerospace's dividend payout ratio (DPR) 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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