Gateway Investment Advisers LLC Sells 3,731 Shares of GE Aerospace (NYSE:GE)

Gateway Investment Advisers LLC cut its stake in GE Aerospace (NYSE:GE - Free Report) by 2.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 174,408 shares of the company's stock after selling 3,731 shares during the period. Gateway Investment Advisers LLC's holdings in GE Aerospace were worth $34,908,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sendero Wealth Management LLC increased its position in shares of GE Aerospace by 526.6% during the first quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock worth $3,004,000 after buying an additional 12,613 shares during the period. Chung Wu Investment Group LLC bought a new stake in GE Aerospace during the fourth quarter valued at $795,000. National Bank of Canada FI grew its holdings in GE Aerospace by 2.9% during the 4th quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock worth $177,535,000 after acquiring an additional 29,844 shares during the period. National Pension Service raised its position in shares of GE Aerospace by 1.7% in the 4th quarter. National Pension Service now owns 2,254,637 shares of the company's stock worth $376,051,000 after acquiring an additional 37,884 shares in the last quarter. Finally, FourThought Financial Partners LLC bought a new position in shares of GE Aerospace in the 4th quarter worth about $507,000. Institutional investors and hedge funds own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GE. UBS Group upped their target price on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Citigroup lowered their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Wells Fargo & Company boosted their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Finally, Redburn Atlantic assumed coverage on shares of GE Aerospace in a research note on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $221.15.

GE Aerospace Trading Up 1.5%

NYSE:GE opened at $255.71 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. GE Aerospace has a one year low of $150.20 and a one year high of $257.47. The company has a market cap of $272.69 billion, a PE ratio of 42.69, a PEG ratio of 2.59 and a beta of 1.38. The firm has a 50-day moving average of $209.94 and a 200-day moving average of $196.09.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.20. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. As a group, equities research analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

Insider Buying and Selling at GE Aerospace

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the business's stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the transaction, the vice president now owns 11,540 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Also, SVP Mohamed Ali sold 1,602 shares of the firm's 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 sale, the senior vice president now directly owns 8,805 shares of the company's stock, valued at approximately $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. Company 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.

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