QRG Capital Management Inc. Cuts Stock Position in GE Aerospace (NYSE:GE)

QRG Capital Management Inc. decreased its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 2.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 263,416 shares of the company's stock after selling 7,078 shares during the quarter. QRG Capital Management Inc.'s holdings in GE Aerospace were worth $52,723,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GE. New Age Alpha Advisors LLC lifted its holdings in GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after buying an additional 84 shares during the period. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of GE Aerospace during the 4th quarter worth $28,000. Putney Financial Group LLC bought a new stake in GE Aerospace during the fourth quarter valued at about $28,000. CBIZ Investment Advisory Services LLC bought a new stake in GE Aerospace during the fourth quarter valued at about $29,000. Finally, Picton Mahoney Asset Management grew its stake in GE Aerospace by 62.4% in the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the company's stock valued at $30,000 after purchasing an additional 68 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Mohamed Ali sold 1,602 shares of the 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 now owns 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the business'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 sale, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

GE Aerospace Price Performance

Shares of GE Aerospace stock traded down $0.22 on Monday, hitting $236.38. The company's stock had a trading volume of 4,396,429 shares, compared to its average volume of 5,420,392. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The company has a market capitalization of $252.07 billion, a price-to-earnings ratio of 39.46, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. The firm has a fifty day moving average price of $216.42 and a 200-day moving average price of $198.48. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $257.47.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.29 by $0.20. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. As a group, sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on GE shares. UBS Group increased their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research report 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 report on Thursday, April 10th. Redburn Atlantic began coverage on GE Aerospace in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price target on the stock. Royal Bank of Canada set a $275.00 price objective on GE Aerospace and gave the company an "outperform" rating in a report on Tuesday, June 3rd. Finally, Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $221.15.

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.