Fifth Third Bancorp Has $65.29 Million Position in GE Aerospace (NYSE:GE)

Fifth Third Bancorp lowered its position in shares of GE Aerospace (NYSE:GE - Free Report) by 23.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 326,197 shares of the company's stock after selling 98,521 shares during the quarter. Fifth Third Bancorp's holdings in GE Aerospace were worth $65,288,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. New Age Alpha Advisors LLC boosted its position in shares of GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after purchasing an additional 84 shares during the period. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of GE Aerospace in the 4th quarter valued at $28,000. Putney Financial Group LLC acquired a new position in shares of GE Aerospace in the 4th quarter valued at $28,000. CBIZ Investment Advisory Services LLC acquired a new position in shares of GE Aerospace in the 4th quarter valued at $29,000. Finally, Picton Mahoney Asset Management boosted its position in shares of GE Aerospace by 62.4% in the 4th quarter. Picton Mahoney Asset Management now owns 177 shares of the company's stock valued at $30,000 after purchasing an additional 68 shares during the period. Institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Performance

NYSE GE traded down $5.97 during trading on Thursday, hitting $239.55. The company's stock had a trading volume of 8,923,649 shares, compared to its average volume of 5,430,012. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The firm has a 50 day moving average price of $213.64 and a 200 day moving average price of $197.47. The firm has a market cap of $255.45 billion, a P/E ratio of 39.99, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $257.47.

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

Analyst Ratings Changes

GE has been the subject of several research analyst reports. Redburn Atlantic assumed coverage on GE Aerospace in a research note on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price objective for the company. UBS Group raised their price target on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Royal Bank of Canada set a $275.00 price target on GE Aerospace and gave the stock an "outperform" rating in a research note on Tuesday, June 3rd. Wells Fargo & Company raised their price target on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Finally, Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $221.15.

Insider Activity

In related news, SVP Mohamed Ali sold 1,602 shares of the business's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the sale, 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 position. The sale 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 the business's 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 now directly owns 11,540 shares in the company, valued at approximately $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 currently owned by company insiders.

GE Aerospace Company 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.