Principle Wealth Partners LLC Sells 11,000 Shares of GE Aerospace (NYSE:GE)

Principle Wealth Partners LLC trimmed its position in shares of GE Aerospace (NYSE:GE - Free Report) by 53.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,536 shares of the company's stock after selling 11,000 shares during the period. Principle Wealth Partners LLC's holdings in GE Aerospace were worth $1,909,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. IMA Advisory Services Inc. acquired a new stake in shares of GE Aerospace during the first quarter valued at about $28,000. Copia Wealth Management grew its stake in shares of GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after acquiring an additional 142 shares in the last quarter. New Age Alpha Advisors LLC grew its stake in shares of GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after acquiring an additional 84 shares in the last quarter. O Brien Wealth Partners LLC acquired a new stake in shares of GE Aerospace during the first quarter valued at about $33,000. Finally, Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of GE Aerospace during the fourth quarter valued at about $28,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace 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 owned 8,805 shares in the company, valued at $1,766,899.35. This trade represents a 15.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.21% of the stock is owned by company insiders.

GE Aerospace Stock Up 1.2%

Shares of GE Aerospace stock traded up $3.27 on Friday, hitting $271.28. 4,597,132 shares of the company traded hands, compared to its average volume of 7,770,745. The company has a 50-day moving average price of $247.59 and a 200 day moving average price of $214.32. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $272.83. The company has a market cap of $287.67 billion, a PE ratio of 37.84, a PEG ratio of 3.06 and a beta of 1.37.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.23. The business had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. GE Aerospace's quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 EPS. Sell-side analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.53%. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Royal Bank Of Canada raised their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Wells Fargo & Company raised their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday. Citigroup reiterated a "buy" rating and set a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Finally, Barclays raised their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday. One research analyst has 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 currently has an average rating of "Moderate Buy" and an average target price of $232.92.

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.