GE Aerospace (NYSE:GE) Holdings Lowered by CMG Global Holdings LLC

CMG Global Holdings LLC cut its stake in GE Aerospace (NYSE:GE - Free Report) by 56.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,371 shares of the company's stock after selling 15,827 shares during the period. GE Aerospace makes up approximately 1.6% of CMG Global Holdings LLC's investment portfolio, making the stock its 17th biggest position. CMG Global Holdings LLC's holdings in GE Aerospace were worth $2,442,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Sendero Wealth Management LLC boosted its stake in GE Aerospace by 526.6% during the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock valued at $3,004,000 after purchasing an additional 12,613 shares in the last quarter. Chung Wu Investment Group LLC bought a new position in GE Aerospace during the fourth quarter valued at about $795,000. National Bank of Canada FI boosted its stake 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 in the last quarter. Global Assets Advisory LLC grew its holdings in GE Aerospace by 186.7% during the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock worth $2,751,000 after acquiring an additional 9,580 shares during the period. Finally, Invesco Ltd. raised its position in GE Aerospace by 14.4% in the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after acquiring an additional 1,204,910 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Stock Up 1.4%

Shares of GE Aerospace stock opened at $254.50 on Monday. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $266.50. The company has a market cap of $271.39 billion, a P/E ratio of 39.58, a P/E/G ratio of 3.07 and a beta of 1.38. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90. The stock has a 50-day moving average price of $228.63 and a 200 day moving average price of $203.27.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.29 by $0.20. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. As a group, analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.57%. GE Aerospace's payout ratio is 22.40%.

Analyst Ratings Changes

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

Insider Buying and Selling at GE Aerospace

In related news, SVP Mohamed Ali sold 1,602 shares of the company'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 completion of the sale, the senior vice president now directly owns 8,805 shares in the company, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following 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 disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

GE Aerospace 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.

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