M&T Bank Corp Sells 13,524 Shares of GE Aerospace (NYSE:GE)

M&T Bank Corp reduced its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 6.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 190,501 shares of the company's stock after selling 13,524 shares during the quarter. M&T Bank Corp's holdings in GE Aerospace were worth $38,128,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GE. Truvestments Capital LLC lifted its stake in GE Aerospace by 26.2% in the 4th quarter. Truvestments Capital LLC now owns 236 shares of the company's stock worth $39,000 after purchasing an additional 49 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its stake in GE Aerospace by 17.6% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company's stock worth $56,000 after purchasing an additional 50 shares in the last quarter. Ballast Advisors LLC lifted its stake in GE Aerospace by 2.5% in the 4th quarter. Ballast Advisors LLC now owns 2,093 shares of the company's stock worth $349,000 after purchasing an additional 51 shares in the last quarter. First Pacific Financial lifted its stake in GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after purchasing an additional 52 shares in the last quarter. Finally, First Heartland Consultants Inc. lifted its stake in GE Aerospace by 1.2% in the 4th quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company's stock worth $789,000 after purchasing an additional 54 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. UBS Group increased their target price on shares of 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 increased their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Royal Bank Of Canada set a $275.00 target price on shares of GE Aerospace and gave the stock an "outperform" rating in a research note on Tuesday, June 3rd. Finally, Citigroup lowered their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, GE Aerospace has a consensus rating of "Moderate Buy" and an average price target of $223.75.

Insiders Place Their Bets

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

GE Aerospace Price Performance

Shares of GE Aerospace stock traded down $1.54 on Tuesday, hitting $247.11. 5,974,468 shares of the company traded hands, compared to its average volume of 5,514,721. The firm's 50-day simple moving average is $235.34 and its 200 day simple moving average is $206.79. 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 company has a market cap of $263.52 billion, a P/E ratio of 38.43, a P/E/G ratio of 2.98 and a beta of 1.37. GE Aerospace has a 12-month low of $150.20 and a 12-month 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 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.20. The company had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.06 billion. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. Analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a 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.