Perpetual Ltd Cuts Stake in GE Aerospace (NYSE:GE)

Perpetual Ltd lessened its position in shares of GE Aerospace (NYSE:GE - Free Report) by 10.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,096 shares of the company's stock after selling 1,689 shares during the period. Perpetual Ltd's holdings in GE Aerospace were worth $2,821,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. PDS Planning Inc lifted its position in shares of GE Aerospace by 10.6% during the 1st quarter. PDS Planning Inc now owns 7,048 shares of the company's stock worth $1,411,000 after buying an additional 678 shares during the last quarter. Penobscot Investment Management Company Inc. raised its position in GE Aerospace by 7.1% in the 1st quarter. Penobscot Investment Management Company Inc. now owns 7,898 shares of the company's stock valued at $1,581,000 after purchasing an additional 526 shares during the last quarter. Oak Hill Wealth Advisors LLC raised its position in GE Aerospace by 26.2% in the 1st quarter. Oak Hill Wealth Advisors LLC now owns 1,806 shares of the company's stock valued at $361,000 after purchasing an additional 375 shares during the last quarter. Western Wealth Management LLC raised its position in GE Aerospace by 4.0% in the 1st quarter. Western Wealth Management LLC now owns 13,357 shares of the company's stock valued at $2,673,000 after purchasing an additional 513 shares during the last quarter. Finally, Nvest Financial LLC purchased a new stake in GE Aerospace in the 1st quarter valued at $210,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wells Fargo & Company upped 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. Northcoast Research cut 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 price objective on shares of GE Aerospace and gave the company an "outperform" rating in a research note on Tuesday, June 3rd. Citigroup dropped their price objective 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. Finally, UBS Group boosted their price objective 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. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $221.15.

GE Aerospace Price Performance

Shares of NYSE:GE traded up $3.50 on Friday, reaching $254.50. 26,986,431 shares of the company were exchanged, compared to its average volume of 5,495,058. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $260.55. The firm has a market cap of $271.39 billion, a price-to-earnings ratio of 39.58, a price-to-earnings-growth ratio of 3.03 and a beta of 1.38. The company has a 50-day moving average of $228.63 and a 200-day moving average of $202.77.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.06 billion. Equities analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.57%. GE Aerospace's payout ratio is 22.40%.

Insider Activity at GE Aerospace

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the company's stock in a transaction dated 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 now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction dated 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 now owns 8,805 shares in the company, valued at approximately $1,766,899.35. This trade represents 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 owned by corporate insiders.

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.