Envestnet Asset Management Inc. Sells 13,283 Shares of GE Aerospace (NYSE:GE)

Envestnet Asset Management Inc. lowered its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,263,413 shares of the company's stock after selling 13,283 shares during the quarter. Envestnet Asset Management Inc. owned 0.12% of GE Aerospace worth $252,872,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Sendero Wealth Management LLC grew 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 worth $3,004,000 after buying an additional 12,613 shares during the last quarter. Concurrent Investment Advisors LLC grew its position in GE Aerospace by 25.1% during the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock worth $8,065,000 after purchasing an additional 8,245 shares during the period. National Bank of Canada FI raised its position 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 acquiring an additional 29,844 shares in the last quarter. Global Assets Advisory LLC lifted its stake in shares of GE Aerospace by 186.7% in the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock valued at $2,751,000 after purchasing an additional 9,580 shares during the period. Finally, Invesco Ltd. grew its position in shares of GE Aerospace by 14.4% during the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock valued at $1,591,970,000 after acquiring an additional 1,204,910 shares during the period. Institutional investors own 74.77% of the company's stock.

Insider Activity at GE Aerospace

In related news, VP Robert M. Giglietti sold 4,104 shares of the business's stock in a transaction that occurred 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 sale, the vice president directly owned 11,540 shares of the company's stock, 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 filing with the SEC, which is available at this link. Also, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction dated 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 directly owned 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This trade represents a 15.39% 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.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GE shares. Citigroup decreased 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. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Royal Bank Of Canada set a $275.00 price objective on GE Aerospace and gave the company an "outperform" rating in a report on Tuesday, June 3rd. UBS Group boosted their target price on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company raised their target price on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $223.75.

GE Aerospace Price Performance

GE stock traded up $2.73 on Wednesday, hitting $249.78. 5,581,342 shares of the company's stock traded hands, compared to its average volume of 5,530,001. The stock has a fifty day moving average of $236.28 and a 200-day moving average of $207.07. The stock has a market cap of $266.36 billion, a price-to-earnings ratio of 38.85, a P/E/G ratio of 2.98 and a beta of 1.37. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $260.55.

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

GE Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.58%. GE Aerospace's payout ratio is presently 22.40%.

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.