Rockland Trust Co. Has $8.14 Million Holdings in GE Aerospace (NYSE:GE)

Rockland Trust Co. lessened its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 15.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,674 shares of the company's stock after selling 7,227 shares during the period. Rockland Trust Co.'s holdings in GE Aerospace were worth $8,141,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GE. Norges Bank acquired a new stake in GE Aerospace during the fourth quarter worth about $2,375,439,000. GAMMA Investing LLC raised its position in shares of GE Aerospace by 23,611.7% in the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock valued at $1,013,959,000 after buying an additional 5,044,632 shares in the last quarter. Janus Henderson Group PLC lifted its holdings 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 worth $597,412,000 after acquiring an additional 1,673,365 shares during the period. Invesco Ltd. boosted 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 worth $1,591,970,000 after acquiring an additional 1,204,910 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in GE Aerospace in the fourth quarter valued at approximately $194,208,000. Institutional investors own 74.77% of the company's stock.

GE Aerospace Trading Down 1.6%

Shares of GE Aerospace stock traded down $3.92 on Friday, hitting $236.07. The stock had a trading volume of 7,408,374 shares, compared to its average volume of 5,427,368. The stock has a 50 day moving average of $215.08 and a 200 day moving average of $197.88. The firm has a market capitalization of $251.74 billion, a P/E ratio of 39.41, a PEG ratio of 2.59 and a beta of 1.38. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $257.47. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on GE shares. 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 report on Tuesday, June 3rd. Citigroup dropped their price objective on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Wells Fargo & Company raised their price objective on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Finally, Redburn Atlantic began coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 target price for the company. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $221.15.

Insider Buying and Selling

In other news, SVP Mohamed Ali sold 1,602 shares of the company'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 sale, the senior vice president now directly owns 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following the transaction, the vice president now directly owns 11,540 shares of the company's stock, valued at $2,270,264.20. This represents a 26.23% decrease in their position. 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.