GE Aerospace (NYSE:GE) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its holdings in GE Aerospace (NYSE:GE - Free Report) by 9.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,371,070 shares of the company's stock after selling 351,160 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.32% of GE Aerospace worth $674,720,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. New Age Alpha Advisors LLC increased its holdings in GE Aerospace by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after purchasing an additional 84 shares during the period. Sumitomo Mitsui Financial Group Inc. purchased a new position in GE Aerospace during the 4th quarter worth $28,000. Putney Financial Group LLC purchased a new position in GE Aerospace during the 4th quarter worth $28,000. Copia Wealth Management increased its holdings in GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after purchasing an additional 142 shares during the period. Finally, Picton Mahoney Asset Management increased its holdings in GE Aerospace by 62.4% during the 4th quarter. Picton Mahoney Asset Management now owns 177 shares of the company's stock worth $30,000 after purchasing an additional 68 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Citigroup restated a "buy" rating and set a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a report on Monday. Royal Bank Of Canada raised their price objective on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday. UBS Group lifted their price target on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday. Finally, Wells Fargo & Company lifted their price target on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, GE Aerospace has a consensus rating of "Moderate Buy" and a consensus target price of $240.33.

GE Aerospace Stock Up 1.3%

GE stock traded up $3.26 on Friday, hitting $263.54. 5,656,275 shares of the company's stock were exchanged, compared to its average volume of 5,634,931. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $272.80. The firm has a 50 day moving average price of $243.40 and a two-hundred day moving average price of $211.08. 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 market cap of $281.04 billion, a P/E ratio of 40.99, a price-to-earnings-growth ratio of 3.19 and a beta of 1.37.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.23. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. The firm had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the previous year, the business earned $1.20 EPS. The firm's revenue for the quarter was up 21.2% on a year-over-year basis. As a group, equities research analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.55%. GE Aerospace's dividend payout ratio is currently 22.40%.

Insider Transactions at GE Aerospace

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following the completion of the sale, the vice president owned 11,540 shares of the company's stock, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction dated Tuesday, April 29th. The stock was 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 of the company's stock, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

About GE Aerospace

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.