GE Aerospace (NYSE:GE) Shares Sold by Mutual Advisors LLC

Mutual Advisors LLC reduced its stake in 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 (SEC). The institutional investor owned 11,079 shares of the company's stock after selling 1,097 shares during the period. Mutual Advisors LLC's holdings in GE Aerospace were worth $2,198,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GE. Norges Bank purchased a new stake in GE Aerospace during the fourth quarter valued at approximately $2,375,439,000. GAMMA Investing LLC raised its holdings in shares of GE Aerospace by 23,611.7% during the first quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock worth $1,013,959,000 after purchasing an additional 5,044,632 shares during the last quarter. Janus Henderson Group PLC raised its holdings 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 purchasing 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 fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after purchasing an additional 1,204,910 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in GE Aerospace during the fourth quarter valued at $194,208,000. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Stock Down 0.6%

NYSE GE traded down $1.47 on Tuesday, hitting $247.18. 3,275,663 shares of the stock were exchanged, compared to its average volume of 5,504,356. 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 fifty-two week low of $150.20 and a fifty-two week high of $260.55. The company has a market cap of $263.59 billion, a PE ratio of 38.44, a PEG ratio of 2.98 and a beta of 1.37. The company has a 50-day moving average price of $235.34 and a 200-day moving average price of $206.79.

GE Aerospace (NYSE:GE - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.20. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The business had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.06 billion. Sell-side analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be given 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 GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the company's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the completion of the transaction, the vice president owned 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 owned 8,805 shares of the company's stock, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GE has been the topic of several analyst reports. Wells Fargo & Company raised their price target 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 raised their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Royal Bank Of Canada set a $275.00 target price on shares of GE Aerospace and gave the stock an "outperform" rating in a research note on Tuesday, June 3rd. Finally, Citigroup reduced their price target on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, GE Aerospace presently has a consensus rating of "Moderate Buy" and a consensus target price of $223.75.

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.