Formidable Asset Management LLC Sells 2,232 Shares of GE Aerospace (NYSE:GE)

Formidable Asset Management LLC lessened its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 20.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,781 shares of the company's stock after selling 2,232 shares during the period. Formidable Asset Management LLC's holdings in GE Aerospace were worth $1,465,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Chung Wu Investment Group LLC purchased a new position in GE Aerospace during the fourth quarter valued at approximately $795,000. National Bank of Canada FI increased its holdings in GE Aerospace by 2.9% during the fourth 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 period. National Pension Service increased its holdings in GE Aerospace by 1.7% during the fourth quarter. National Pension Service now owns 2,254,637 shares of the company's stock valued at $376,051,000 after buying an additional 37,884 shares during the period. FourThought Financial Partners LLC purchased a new position in GE Aerospace during the fourth quarter valued at approximately $507,000. Finally, Invesco Ltd. increased its holdings in GE Aerospace by 14.4% during the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock valued at $1,591,970,000 after buying an additional 1,204,910 shares during the period. Institutional investors own 74.77% of the company's stock.

Analyst Ratings Changes

GE has been the topic of several research reports. Royal Bank of Canada reissued an "outperform" rating and set a $220.00 price objective on shares of GE Aerospace in a report on Wednesday, April 23rd. UBS Group lifted their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lifted their price target on shares of GE Aerospace from $190.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Finally, Bank of America lifted their price target on shares of GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $216.92.

Insider Transactions at GE Aerospace

In related news, 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 transaction of $807,379.92. Following the completion of the transaction, the vice president now directly owns 11,540 shares in the company, valued at $2,270,264.20. The trade was a 26.23% decrease in their ownership of the stock. The transaction 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 business's 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 transaction, the senior vice president now owns 8,805 shares of the company's stock, valued at $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

GE Aerospace Trading Up 1.1%

NYSE:GE opened at $232.86 on Friday. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $237.30. The firm has a fifty day simple moving average of $201.76 and a 200-day simple moving average of $191.56. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $248.32 billion, a P/E ratio of 38.87, a PEG ratio of 2.59 and a beta of 1.31.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.