DekaBank Deutsche Girozentrale Lowers Stock Holdings in GE Aerospace (NYSE:GE)

DekaBank Deutsche Girozentrale cut its position in shares of GE Aerospace (NYSE:GE - Free Report) by 8.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 463,645 shares of the company's stock after selling 44,632 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in GE Aerospace were worth $90,654,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of GE. OMNI 360 Wealth Inc. purchased a new position in GE Aerospace during the first quarter valued at $468,000. Partners in Financial Planning grew its stake in GE Aerospace by 11.7% during the first quarter. Partners in Financial Planning now owns 3,778 shares of the company's stock valued at $756,000 after acquiring an additional 396 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in shares of GE Aerospace by 3.8% in the 1st quarter. Valeo Financial Advisors LLC now owns 20,349 shares of the company's stock worth $4,073,000 after buying an additional 754 shares in the last quarter. Stratos Investment Management LLC purchased a new position in shares of GE Aerospace during the 1st quarter worth about $237,000. Finally, NTV Asset Management LLC boosted its stake in shares of GE Aerospace by 1.1% during the first quarter. NTV Asset Management LLC now owns 7,940 shares of the company's stock valued at $1,589,000 after purchasing an additional 85 shares during the period. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Stock Performance

Shares of GE Aerospace stock traded up $2.73 during mid-day trading on Wednesday, hitting $249.78. 5,581,342 shares of the stock were exchanged, compared to its average volume of 5,523,229. The company has a market capitalization of $266.36 billion, a P/E ratio of 38.85, a P/E/G ratio of 3.00 and a beta of 1.37. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $260.55. The company has a 50-day simple moving average of $236.28 and a 200 day simple moving average of $207.07.

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. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. Sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.58%. GE Aerospace's payout ratio is 22.40%.

Analyst Ratings Changes

A number of research firms have commented on GE. Wells Fargo & Company increased their price target on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Royal Bank Of Canada set a $275.00 price target on shares of GE Aerospace and gave the company an "outperform" rating in a research note on Tuesday, June 3rd. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Citigroup reduced their price target on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, UBS Group upped their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, GE Aerospace has an average rating of "Moderate Buy" and a consensus target price of $223.75.

Insider Buying and Selling at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the firm's 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 sale, the senior vice president owned 8,805 shares in the company, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $807,379.92. Following the transaction, the vice president owned 11,540 shares of the company's stock, valued at $2,270,264.20. This represents a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

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.