GE Aerospace (NYSE:GE) Shares Sold by Heritage Investors Management Corp

Heritage Investors Management Corp lowered its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 5.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,170 shares of the company's stock after selling 1,158 shares during the quarter. Heritage Investors Management Corp's holdings in GE Aerospace were worth $4,237,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GE. Norges Bank purchased a new stake in shares of GE Aerospace in the fourth quarter worth about $2,375,439,000. GAMMA Investing LLC increased its stake in GE Aerospace by 23,611.7% in the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock worth $1,013,959,000 after acquiring an additional 5,044,632 shares during the last quarter. Janus Henderson Group PLC increased its stake in GE Aerospace by 87.7% in the 4th quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock worth $597,412,000 after acquiring an additional 1,673,365 shares during the last quarter. Invesco Ltd. raised its holdings 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 worth $1,591,970,000 after acquiring an additional 1,204,910 shares in the last quarter. Finally, FMR LLC boosted its position 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 acquiring an additional 965,012 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Trading Up 1.2%

NYSE:GE traded up $3.21 during midday trading on Friday, hitting $263.49. The stock had a trading volume of 8,605,410 shares, compared to its average volume of 5,648,390. The stock has a 50-day moving average of $244.37 and a 200 day moving average of $212.06. The company has a market capitalization of $280.98 billion, a price-to-earnings ratio of 36.75, a PEG ratio of 3.05 and a beta of 1.37. GE Aerospace has a one year low of $150.20 and a one year high of $272.80. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. The company had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 earnings per share. As a group, sell-side analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.55%. GE Aerospace's dividend payout ratio is presently 20.08%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. UBS Group boosted their price objective on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research note on Friday. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Royal Bank Of Canada lifted their target price on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, GE Aerospace has a consensus rating of "Moderate Buy" and an average price target of $240.33.

Insider Activity

In other news, 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 transaction of $321,473.34. Following the transaction, the senior vice president directly owned 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the company's stock in a transaction dated 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 directly 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 disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

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.