CenterBook Partners LP Lowers Position in GE Aerospace (NYSE:GE)

CenterBook Partners LP decreased its holdings in GE Aerospace (NYSE:GE - Free Report) by 43.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,946 shares of the company's stock after selling 5,369 shares during the period. CenterBook Partners LP's holdings in GE Aerospace were worth $1,390,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Rainey & Randall Wealth Advisors Inc. bought a new stake in shares of GE Aerospace in the 1st quarter worth approximately $203,000. Sendero Wealth Management LLC lifted its holdings in shares of GE Aerospace by 526.6% in the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock worth $3,004,000 after acquiring an additional 12,613 shares during the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of GE Aerospace by 25.1% in the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock worth $8,065,000 after acquiring an additional 8,245 shares during the last quarter. National Bank of Canada FI raised its holdings in GE Aerospace by 2.9% during the 4th quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock valued at $177,535,000 after buying an additional 29,844 shares during the last quarter. Finally, Global Assets Advisory LLC raised its holdings in GE Aerospace by 186.7% during the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock valued at $2,751,000 after buying an additional 9,580 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

Insider Buying and Selling at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace 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 directly owned 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the sale, the vice president owned 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 disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Wells Fargo & Company boosted their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Royal Bank Of Canada boosted their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday. Citigroup reissued a "buy" rating and set a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research report on Monday. Finally, UBS Group upped their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $240.33.

GE Aerospace Price Performance

GE traded up $3.21 during trading on Friday, reaching $263.49. 8,605,410 shares of the company traded hands, compared to its average volume of 5,646,120. The firm has a fifty day simple moving average of $243.40 and a 200 day simple moving average of $211.08. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $272.80. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. The company has a market cap of $280.98 billion, a P/E ratio of 40.98, a PEG ratio of 3.19 and a beta of 1.37.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The firm had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. GE Aerospace's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period last year, the firm posted $1.20 earnings per share. On average, equities analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.55%. GE Aerospace's payout ratio is 22.40%.

About GE Aerospace

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.