Signaturefd LLC Trims Stock Holdings in GE Aerospace (NYSE:GE)

Signaturefd LLC lessened its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 34.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,432 shares of the company's stock after selling 10,677 shares during the quarter. Signaturefd LLC's holdings in GE Aerospace were worth $4,089,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of GE Aerospace during the fourth quarter worth about $2,375,439,000. GAMMA Investing LLC grew its holdings in shares of GE Aerospace by 23,611.7% during the first quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock worth $1,013,959,000 after purchasing an additional 5,044,632 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of GE Aerospace by 87.7% during the fourth quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock worth $597,412,000 after purchasing an additional 1,673,365 shares in the last quarter. Invesco Ltd. grew its holdings in shares of GE Aerospace by 14.4% during the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after purchasing an additional 1,204,910 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of GE Aerospace by 1.5% during the fourth quarter. FMR LLC now owns 66,823,968 shares of the company's stock worth $11,145,570,000 after purchasing an additional 965,012 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Trading Down 2.2%

GE stock traded down $5.96 during midday trading on Thursday, hitting $260.22. The company had a trading volume of 16,250,824 shares, compared to its average volume of 5,634,256. 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 52 week low of $150.20 and a 52 week high of $272.80. The stock's 50 day moving average price is $243.40 and its 200 day moving average price is $211.08. The stock has a market cap of $277.50 billion, a price-to-earnings ratio of 40.47, a PEG ratio of 3.19 and a beta of 1.37.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.23. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. The firm had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the previous year, the company posted $1.20 earnings per share. The business's revenue was up 21.2% on a year-over-year basis. As a group, equities research analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

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 issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.55%. GE Aerospace's dividend payout ratio is presently 22.40%.

Analysts Set New Price Targets

Several research analysts have recently commented on GE shares. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Wells Fargo & Company upped their target price on 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 GE Aerospace and gave the stock an "outperform" rating in a research note on Tuesday, June 3rd. UBS Group upped 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, Citigroup reaffirmed a "buy" rating and issued a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research note on Monday. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, GE Aerospace presently has a consensus rating of "Moderate Buy" and an average target price of $229.50.

Insider Buying and Selling

In related news, VP Robert M. Giglietti sold 4,104 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the vice president owned 11,540 shares in the company, valued at $2,270,264.20. This represents a 26.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction that occurred 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 transaction, the senior vice president owned 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

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.