Concord Wealth Partners Sells 9,151 Shares of GE Aerospace (NYSE:GE)

Concord Wealth Partners trimmed its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 93.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 673 shares of the company's stock after selling 9,151 shares during the quarter. Concord Wealth Partners' holdings in GE Aerospace were worth $135,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of GE. Vanguard Group Inc. boosted its stake in shares of GE Aerospace by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company's stock worth $14,980,297,000 after buying an additional 410,172 shares during the last quarter. FMR LLC lifted its stake in GE Aerospace by 1.5% in 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. Geode Capital Management LLC lifted its stake in GE Aerospace by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company's stock valued at $3,846,587,000 after purchasing an additional 529,457 shares during the last quarter. Norges Bank acquired a new stake in GE Aerospace during the fourth quarter worth approximately $2,375,439,000. Finally, Northern Trust Corp lifted its position in GE Aerospace by 5.8% during the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock worth $1,675,717,000 after acquiring an additional 553,104 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, 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 sale, the vice president directly owned 11,540 shares of the company's stock, valued at $2,270,264.20. This represents a 26.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the sale, the senior vice president directly owned 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This trade represents 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 currently owned by corporate insiders.

GE Aerospace Trading Up 1.2%

Shares of NYSE GE traded up $3.21 during midday trading on Friday, hitting $263.49. 8,605,410 shares of the company traded hands, compared to its average volume of 5,648,390. 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 0.88, a quick ratio of 0.77 and a current ratio of 1.04. The stock has a 50-day moving average price of $244.37 and a 200 day moving average price of $212.06. The firm has a market cap of $280.98 billion, a P/E ratio of 36.75, a P/E/G ratio of 3.09 and a beta of 1.37.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. The business had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. GE Aerospace's quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 earnings per share. As a group, analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.55%. GE Aerospace's dividend payout ratio (DPR) is 20.08%.

Wall Street Analysts Forecast Growth

GE has been the topic of several recent research reports. Citigroup reaffirmed a "buy" rating and set a $296.00 target price (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Wells Fargo & Company boosted their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday. Finally, Royal Bank Of Canada boosted their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $240.33.

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.