Equitable Trust Co. Sells 968 Shares of GE Aerospace (NYSE:GE)

Key Points

• Equitable Trust Co. reduced its holdings in GE Aerospace by 4.2% in Q1, selling 968 shares, leaving it with 21,895 shares valued at approximately $4.38 million.
• Institutional investors collectively hold 74.77% of GE Aerospace's stock, with notable increases in holdings from Denver PWM LLC and other firms during the same period.
• Analysts have varied expectations for GE Aerospace, with upgrades from firms like Barclays and Wells Fargo, while the stock has an average rating of "Moderate Buy" and a consensus target price of $232.92.

Equitable Trust Co. lowered its position in GE Aerospace (NYSE:GE - Free Report) by 4.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,895 shares of the company's stock after selling 968 shares during the quarter. Equitable Trust Co.'s holdings in GE Aerospace were worth $4,382,000 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. Ritter Daniher Financial Advisory LLC DE raised its position in shares of GE Aerospace by 17.6% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company's stock valued at $56,000 after purchasing an additional 50 shares during the period. Hudock Inc. increased its position in GE Aerospace by 1.8% during the first quarter. Hudock Inc. now owns 2,905 shares of the company's stock worth $582,000 after acquiring an additional 50 shares during the period. First Pacific Financial increased its position in GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after acquiring an additional 52 shares during the period. First Heartland Consultants Inc. increased its position in GE Aerospace by 1.2% during the fourth quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company's stock worth $789,000 after acquiring an additional 54 shares during the period. Finally, Affinity Wealth Management LLC increased its position in GE Aerospace by 4.4% during the first quarter. Affinity Wealth Management LLC now owns 1,318 shares of the company's stock worth $264,000 after acquiring an additional 56 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Price Performance

Shares of GE traded up $3.27 during mid-day trading on Friday, reaching $271.28. The company had a trading volume of 4,597,132 shares, compared to its average volume of 7,770,745. The company's 50 day simple moving average is $248.37 and its 200 day simple moving average is $215.00. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $272.83. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The company has a market capitalization of $287.67 billion, a price-to-earnings ratio of 37.84, a P/E/G ratio of 3.06 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 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period last year, the company earned $1.20 EPS. The firm's revenue was up 21.2% compared to the same quarter last year. Analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders 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 yield of 0.53%. GE Aerospace's payout ratio is 20.08%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. UBS Group raised their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Barclays increased their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday. Wells Fargo & Company increased their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday. Royal Bank Of Canada increased their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Finally, Citigroup reiterated a "buy" rating and set a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $232.92.

Insider Transactions at GE Aerospace

In other 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 value of $321,473.34. Following the completion of the sale, the senior vice president owned 8,805 shares in the company, valued at $1,766,899.35. The trade was a 15.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.21% of the company's stock.

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.