KBC Group NV Reduces Position in GE Aerospace (NYSE:GE)

KBC Group NV reduced its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 13.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 192,344 shares of the company's stock after selling 30,864 shares during the quarter. KBC Group NV's holdings in GE Aerospace were worth $38,498,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GE. Norges Bank purchased a new position in GE Aerospace in the 4th quarter worth about $2,375,439,000. GAMMA Investing LLC boosted its position 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 valued at $1,013,959,000 after buying an additional 5,044,632 shares during the period. Janus Henderson Group PLC increased its position 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 acquiring an additional 1,673,365 shares during the period. Invesco Ltd. increased its position 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 acquiring an additional 1,204,910 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of GE Aerospace during the fourth quarter valued at approximately $194,208,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of research reports. UBS Group boosted their price target on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Royal Bank Of Canada set a $275.00 price target on GE Aerospace and gave the company an "outperform" rating in a research note on Tuesday, June 3rd. Wells Fargo & Company lifted their price objective on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Finally, Citigroup lowered their price objective on shares of 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 equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $223.75.

GE Aerospace Stock Down 3.0%

GE traded down $7.67 on Tuesday, hitting $249.73. The company had a trading volume of 1,947,252 shares, compared to its average volume of 5,480,074. The stock has a market capitalization of $266.30 billion, a price-to-earnings ratio of 38.85, a P/E/G ratio of 3.07 and a beta of 1.38. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. The stock has a fifty day moving average price of $230.21 and a 200-day moving average price of $203.91. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $260.55.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.29 by $0.20. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. Analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal 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 paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.58%. GE Aerospace's dividend payout ratio (DPR) is 22.40%.

Insider Buying and Selling at GE Aerospace

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 stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the sale, the vice president owned 11,540 shares of the company's stock, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by 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.