Mutual Advisors LLC Reduces Stock Holdings in GE Aerospace (NYSE:GE)

Mutual Advisors LLC reduced its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 9.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,079 shares of the company's stock after selling 1,097 shares during the quarter. Mutual Advisors LLC's holdings in GE Aerospace were worth $2,198,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of GE Aerospace by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company's stock valued at $14,980,297,000 after purchasing an additional 410,172 shares in the last quarter. FMR LLC grew its holdings in 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 buying an additional 965,012 shares in the last quarter. Geode Capital Management LLC grew its holdings in GE Aerospace by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company's stock valued at $3,846,587,000 after buying an additional 529,457 shares in the last quarter. Norges Bank bought a new stake in shares of GE Aerospace during the fourth quarter valued at about $2,375,439,000. Finally, Northern Trust Corp lifted its holdings in shares of GE Aerospace by 5.8% in the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock worth $1,675,717,000 after buying an additional 553,104 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president owned 11,540 shares in the company, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of GE Aerospace 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 completion of the transaction, the senior vice president directly owned 8,805 shares in the company, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

GE has been the subject of several recent analyst reports. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Citigroup reduced their price target on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. UBS Group increased their price objective on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. 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 research note on Thursday, April 24th. Finally, Royal Bank Of Canada set a $275.00 target price on GE Aerospace and gave the stock an "outperform" rating in a research note on Tuesday, June 3rd. 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 stock presently has an average rating of "Moderate Buy" and an average target price of $223.75.

GE Aerospace Price Performance

Shares of NYSE GE traded up $2.03 during trading hours on Friday, reaching $246.78. 3,089,499 shares of the stock traded hands, compared to its average volume of 5,509,984. The company has a market capitalization of $263.16 billion, a P/E ratio of 38.38, a price-to-earnings-growth ratio of 2.98 and a beta of 1.37. The company's 50-day simple moving average is $234.38 and its two-hundred day simple moving average is $205.62. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $260.55.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.20. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. Equities research analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.58%. GE Aerospace's dividend payout ratio (DPR) is currently 22.40%.

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.