EP Wealth Advisors LLC Trims Stake in GE Aerospace (NYSE:GE)

EP Wealth Advisors LLC lowered its holdings in GE Aerospace (NYSE:GE - Free Report) by 16.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,262 shares of the company's stock after selling 4,629 shares during the period. EP Wealth Advisors LLC's holdings in GE Aerospace were worth $4,047,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of GE. Norges Bank purchased a new stake in GE Aerospace in the fourth quarter worth approximately $2,375,439,000. Invesco Ltd. lifted its holdings in shares of GE Aerospace by 14.4% in the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after acquiring an additional 1,204,910 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of GE Aerospace in the 4th quarter valued at $194,208,000. FMR LLC grew its holdings in shares of GE Aerospace by 1.5% during the 4th quarter. FMR LLC now owns 66,823,968 shares of the company's stock valued at $11,145,570,000 after purchasing an additional 965,012 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in GE Aerospace by 11.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 7,551,038 shares of the company's stock worth $1,259,438,000 after purchasing an additional 781,574 shares during the period. Institutional investors own 74.77% of the company's stock.

Insiders Place Their Bets

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president now owns 11,540 shares of the company's stock, valued at approximately $2,270,264.20. This trade represents a 26.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction that occurred 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 transaction, the senior vice president now owns 8,805 shares of the company's stock, valued at $1,766,899.35. The trade was a 15.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

GE Aerospace Stock Up 2.2 %

Shares of GE Aerospace stock opened at $214.64 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.81 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 cap of $228.89 billion, a P/E ratio of 35.83, a PEG ratio of 2.59 and a beta of 1.31. The company's fifty day simple moving average is $194.92 and its two-hundred day simple moving average is $187.61.

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

GE Aerospace Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, March 10th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.67%. This is a boost from GE Aerospace's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, March 10th. GE Aerospace's dividend payout ratio is presently 22.40%.

Analyst Ratings Changes

Several research firms have issued reports on GE. JPMorgan Chase & Co. upped their price target on shares of GE Aerospace from $190.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Redburn Atlantic began coverage on GE Aerospace in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price target on the stock. Citigroup decreased their price target on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company increased their price objective on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Finally, UBS Group lifted their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $216.92.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.