GE Aerospace (NYSE:GE) Position Lowered by Herbst Group LLC

Herbst Group LLC lowered its stake in GE Aerospace (NYSE:GE - Free Report) by 13.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 25,119 shares of the company's stock after selling 3,862 shares during the quarter. GE Aerospace accounts for about 3.6% of Herbst Group LLC's portfolio, making the stock its 7th biggest holding. Herbst Group LLC's holdings in GE Aerospace were worth $5,028,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in GE. Sendero Wealth Management LLC lifted its holdings in GE Aerospace by 526.6% in the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock valued at $3,004,000 after purchasing an additional 12,613 shares in the last quarter. Chung Wu Investment Group LLC acquired a new stake in shares of GE Aerospace during the 4th quarter worth about $795,000. National Bank of Canada FI grew its position in GE Aerospace by 2.9% in the 4th 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. National Pension Service grew its position in GE Aerospace by 1.7% in the 4th quarter. National Pension Service now owns 2,254,637 shares of the company's stock valued at $376,051,000 after acquiring an additional 37,884 shares in the last quarter. Finally, FourThought Financial Partners LLC acquired a new position in GE Aerospace in the 4th quarter valued at about $507,000. Institutional investors and hedge funds own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Redburn Atlantic assumed coverage on GE Aerospace in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price objective for the company. Royal Bank of Canada set a $275.00 price objective on shares of GE Aerospace and gave the stock an "outperform" rating in a research report on Tuesday. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. UBS Group upped their price target 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 cut their price target on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $221.15.

GE Aerospace Price Performance

GE Aerospace stock traded up $3.79 during trading hours on Friday, hitting $255.71. The stock had a trading volume of 5,792,957 shares, compared to its average volume of 5,371,419. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The stock has a market capitalization of $272.69 billion, a price-to-earnings ratio of 42.69, a PEG ratio of 2.59 and a beta of 1.38. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $257.41. The stock's fifty day moving average is $208.91 and its two-hundred day moving average is $195.55.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results 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. 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 analyst estimates of $9.06 billion. As a group, analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the transaction, the senior vice president now directly owns 8,805 shares in the company, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the 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 transaction, the vice president now owns 11,540 shares in the company, 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. Company insiders own 0.21% of the company's stock.

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.