Harbor Capital Advisors Inc. Reduces Position in GE Aerospace (NYSE:GE)

Harbor Capital Advisors Inc. decreased its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 27.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,825 shares of the company's stock after selling 5,894 shares during the period. Harbor Capital Advisors Inc.'s holdings in GE Aerospace were worth $3,167,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GE. Vanguard Group Inc. boosted its holdings in shares of GE Aerospace by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company's stock valued at $14,980,297,000 after acquiring an additional 410,172 shares during the last quarter. FMR LLC lifted its holdings in shares of GE Aerospace by 1.5% during the 4th quarter. FMR LLC now owns 66,823,968 shares of the company's stock valued at $11,145,570,000 after buying an additional 965,012 shares during the period. Geode Capital Management LLC lifted its holdings in shares of GE Aerospace by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company's stock valued at $3,846,587,000 after buying an additional 529,457 shares during the period. Norges Bank purchased a new position in shares of GE Aerospace in the 4th quarter worth $2,375,439,000. Finally, Northern Trust Corp grew its holdings in shares of GE Aerospace by 5.8% in the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock worth $1,675,717,000 after acquiring an additional 553,104 shares during the period. Hedge funds and other institutional investors own 74.77% of the company's stock.

Insider Buying and Selling

In other news, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the transaction, the vice president now owns 11,540 shares in the company, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction on Tuesday, April 29th. The stock was 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 owns 8,805 shares of the company's stock, valued at $1,766,899.35. This 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 owned by company insiders.

GE Aerospace Price Performance

Shares of GE Aerospace stock traded down $5.97 during trading hours on Thursday, hitting $239.55. The company's stock had a trading volume of 8,923,649 shares, compared to its average volume of 5,430,012. The company has a market cap of $255.45 billion, a PE ratio of 39.99, a PEG ratio of 2.59 and a beta of 1.38. 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 business has a 50 day moving average price of $213.64 and a two-hundred day moving average price of $197.47. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $257.47.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly 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. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. The company had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.06 billion. Analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on GE shares. UBS Group raised their target price on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Citigroup reduced their target price on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Royal Bank of Canada set a $275.00 price target on shares of GE Aerospace and gave the stock an "outperform" rating in a research note on Tuesday, June 3rd. Redburn Atlantic started coverage on GE Aerospace in a research note on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price objective for the company. Finally, Wells Fargo & Company lifted their target price on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, GE Aerospace currently has an average rating of "Moderate Buy" and a consensus target price of $221.15.

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.