Richard Bernstein Advisors LLC Sells 1,795 Shares of GE Aerospace (NYSE:GE)

Richard Bernstein Advisors LLC decreased its position in GE Aerospace (NYSE:GE - Free Report) by 4.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,359 shares of the company's stock after selling 1,795 shares during the period. Richard Bernstein Advisors LLC's holdings in GE Aerospace were worth $7,277,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GE. Norges Bank bought a new position in GE Aerospace during the 4th quarter valued at about $2,375,439,000. GAMMA Investing LLC increased its position in shares of GE Aerospace by 23,611.7% during the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock valued at $1,013,959,000 after purchasing an additional 5,044,632 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of GE Aerospace by 87.7% during the 4th quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock valued at $597,412,000 after purchasing an additional 1,673,365 shares during the last quarter. Invesco Ltd. increased its position in shares of GE Aerospace by 14.4% during the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock valued at $1,591,970,000 after purchasing an additional 1,204,910 shares during the last quarter. Finally, FMR LLC increased its position in shares of GE Aerospace by 1.5% during the 4th quarter. FMR LLC now owns 66,823,968 shares of the company's stock valued at $11,145,570,000 after purchasing an additional 965,012 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

Insiders Place Their Bets

In related news, VP Robert M. Giglietti sold 4,104 shares of the firm'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 directly owned 11,540 shares in the company, valued at $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the sale, the senior vice president owned 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This 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 company insiders.

Analyst Upgrades and Downgrades

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

GE Aerospace Price Performance

Shares of NYSE GE traded up $2.26 during midday trading on Thursday, reaching $252.59. 5,459,834 shares of the stock traded hands, compared to its average volume of 5,532,713. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.08 and a quick ratio of 0.77. The stock has a market capitalization of $269.36 billion, a PE ratio of 39.28, a P/E/G ratio of 2.98 and a beta of 1.37. GE Aerospace has a one year low of $150.20 and a one year high of $260.55. The company's 50 day moving average is $237.24 and its 200 day moving average is $207.36.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.49 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 the consensus estimate of $9.06 billion. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. On average, equities research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

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

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.