Columbia Asset Management Sells 20,011 Shares of GE Aerospace (NYSE:GE)

Columbia Asset Management trimmed its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 72.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,663 shares of the company's stock after selling 20,011 shares during the quarter. Columbia Asset Management's holdings in GE Aerospace were worth $1,534,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of GE. Norges Bank bought a new position in shares of GE Aerospace during the fourth quarter worth about $2,375,439,000. GAMMA Investing LLC raised its stake in GE Aerospace by 23,611.7% during the first quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock valued at $1,013,959,000 after buying an additional 5,044,632 shares in the last quarter. Janus Henderson Group PLC raised its stake in GE Aerospace by 87.7% during the fourth quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock valued at $597,412,000 after buying an additional 1,673,365 shares in the last quarter. Invesco Ltd. lifted its holdings in GE Aerospace by 14.4% during the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after buying an additional 1,204,910 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in GE Aerospace during the 4th quarter worth approximately $194,208,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GE. Redburn Atlantic initiated coverage on GE Aerospace in a research report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 target price for the company. UBS Group raised their price objective on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. 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 note on Thursday, April 24th. Citigroup dropped their target price on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, Royal Bank of Canada lifted their price target on shares of GE Aerospace from $220.00 to $275.00 and gave the company an "outperform" rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, GE Aerospace currently has a consensus rating of "Moderate Buy" and an average price target of $221.15.

GE Aerospace Stock Up 0.3%

Shares of NYSE GE traded up $0.85 during mid-day trading on Thursday, reaching $251.73. The company had a trading volume of 4,140,352 shares, compared to its average volume of 5,363,688. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The company has a market capitalization of $268.44 billion, a price-to-earnings ratio of 42.03, a PEG ratio of 2.59 and a beta of 1.38. The stock has a fifty day moving average of $207.88 and a two-hundred day moving average of $195.04. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $253.06.

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

Insider Transactions at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the business's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the transaction, the senior vice president now owns 8,805 shares in the company, valued at $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the sale, the vice president now directly owns 11,540 shares of the company's stock, valued at $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

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.