Nisa Investment Advisors LLC Cuts Stock Holdings in GE Aerospace (NYSE:GE)

Nisa Investment Advisors LLC decreased its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 10.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 233,423 shares of the company's stock after selling 28,457 shares during the period. Nisa Investment Advisors LLC's holdings in GE Aerospace were worth $46,803,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GE. Alpha Financial Partners LLC purchased a new position in shares of GE Aerospace in the 1st quarter worth approximately $212,000. Topsail Wealth Management LLC purchased a new stake in shares of GE Aerospace in the 1st quarter valued at $246,000. Banque Pictet & Cie SA boosted its holdings in shares of GE Aerospace by 33.5% in the 1st quarter. Banque Pictet & Cie SA now owns 8,655 shares of the company's stock valued at $1,732,000 after acquiring an additional 2,171 shares during the last quarter. Wealth Advisory Solutions LLC purchased a new stake in shares of GE Aerospace in the 1st quarter valued at $229,000. Finally, LBP AM SA boosted its holdings in shares of GE Aerospace by 26.5% in the 1st quarter. LBP AM SA now owns 80,260 shares of the company's stock valued at $16,064,000 after acquiring an additional 16,810 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Trading Up 0.7%

Shares of GE traded up $1.66 during mid-day trading on Wednesday, reaching $248.71. The stock had a trading volume of 763,079 shares, compared to its average volume of 5,504,976. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.08 and a quick ratio of 0.77. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $260.55. The business's fifty day moving average is $236.28 and its 200 day moving average is $207.07. The firm has a market cap of $265.22 billion, a price-to-earnings ratio of 38.77, a P/E/G ratio of 3.00 and a beta of 1.37.

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 (EPS) for the quarter, beating 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. On average, sell-side analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

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 0.58%. GE Aerospace's dividend payout ratio (DPR) is presently 22.40%.

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 completion of the transaction, the vice president owned 11,540 shares of the company's stock, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The shares were 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 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. Company insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on GE shares. Royal Bank Of Canada set a $275.00 price objective on shares of GE Aerospace and gave the company an "outperform" rating in a report on Tuesday, June 3rd. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. UBS Group boosted their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Citigroup decreased their target price 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. Finally, Wells Fargo & Company boosted their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. 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 MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $223.75.

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.

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