GE Aerospace (NYSE:GE) Shares Sold by IFP Advisors Inc

IFP Advisors Inc lowered its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 29.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,642 shares of the company's stock after selling 6,088 shares during the quarter. IFP Advisors Inc's holdings in GE Aerospace were worth $2,930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank purchased a new stake in GE Aerospace in the fourth quarter worth approximately $2,375,439,000. GAMMA Investing LLC raised its position in GE Aerospace by 23,611.7% in the first 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 period. Janus Henderson Group PLC lifted its position in shares of GE Aerospace by 87.7% in the fourth quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock valued at $597,412,000 after acquiring an additional 1,673,365 shares in the last quarter. Invesco Ltd. lifted its position in shares of GE Aerospace by 14.4% in the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock valued at $1,591,970,000 after acquiring an additional 1,204,910 shares in the last quarter. Finally, FMR LLC increased its holdings in GE Aerospace by 1.5% in 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 Price Performance

NYSE:GE traded up $5.75 during trading hours on Thursday, reaching $268.93. 2,818,376 shares of the company were exchanged, compared to its average volume of 6,252,756. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The stock's 50-day moving average is $246.81 and its 200-day moving average is $213.67. The firm has a market cap of $285.18 billion, a PE ratio of 37.53, a price-to-earnings-growth ratio of 2.93 and a beta of 1.37. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $272.80.

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

GE Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.54%. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

Insider Activity at GE Aerospace

In other news, SVP Mohamed Ali sold 1,602 shares of the firm's stock in a transaction 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 sale, the senior vice president directly owned 8,805 shares in the company, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on GE. Barclays lifted their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday. UBS Group boosted their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Wells Fargo & Company boosted their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday. Finally, Royal Bank Of Canada upped their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, GE Aerospace currently has an average rating of "Moderate Buy" and an average target price of $232.92.

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.