Petra Financial Advisors Inc. Decreases Stock Position in GE Aerospace (NYSE:GE)

Petra Financial Advisors Inc. lessened its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 57.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,922 shares of the company's stock after selling 4,017 shares during the period. Petra Financial Advisors Inc.'s holdings in GE Aerospace were worth $585,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in GE Aerospace by 0.5% during 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 increased its holdings in shares of GE Aerospace by 1.5% in the 4th quarter. FMR LLC now owns 66,823,968 shares of the company's stock worth $11,145,570,000 after buying an additional 965,012 shares during the last quarter. Geode Capital Management LLC raised its position in shares of 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 position in shares of GE Aerospace in the 4th quarter valued at about $2,375,439,000. Finally, Northern Trust Corp grew its position in 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 acquiring an additional 553,104 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

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 on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the firm's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the transaction, the senior vice president now owns 8,805 shares in the company, 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. 0.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GE shares. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. UBS Group boosted their target price on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada set a $275.00 price target on GE Aerospace and gave the stock an "outperform" rating in a research report on Tuesday, June 3rd. Wells Fargo & Company boosted their price objective 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. Finally, Citigroup reduced their target price 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 research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, GE Aerospace currently has a consensus rating of "Moderate Buy" and a consensus price target of $221.15.

GE Aerospace Stock Performance

Shares of GE Aerospace stock opened at $238.91 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90. The stock's fifty day moving average is $221.93 and its two-hundred day moving average is $200.15. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $257.47. The company has a market capitalization of $254.78 billion, a PE ratio of 37.16, a price-to-earnings-growth ratio of 2.85 and a beta of 1.38.

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 analysts' consensus estimates of $1.29 by $0.20. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. As a group, analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

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.

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