Schechter Investment Advisors LLC Sells 1,652 Shares of GE Aerospace (NYSE:GE)

Schechter Investment Advisors LLC reduced its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 11.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,232 shares of the company's stock after selling 1,652 shares during the quarter. Schechter Investment Advisors LLC's holdings in GE Aerospace were worth $2,448,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC raised its position in shares of GE Aerospace by 25.3% in the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock valued at $2,003,000 after buying an additional 2,421 shares in the last quarter. Revolve Wealth Partners LLC raised its position in GE Aerospace by 7.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock valued at $375,000 after purchasing an additional 150 shares in the last quarter. Proficio Capital Partners LLC raised its position in GE Aerospace by 62.2% during the fourth quarter. Proficio Capital Partners LLC now owns 3,327 shares of the company's stock valued at $555,000 after purchasing an additional 1,276 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in GE Aerospace during the fourth quarter worth $849,000. Finally, Erste Asset Management GmbH boosted its holdings in shares of GE Aerospace by 53.4% in the 4th quarter. Erste Asset Management GmbH now owns 431 shares of the company's stock valued at $72,000 after purchasing an additional 150 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GE has been the topic of several recent analyst reports. Royal Bank Of Canada set a $275.00 price target on GE Aerospace and gave the company an "outperform" rating in a research note on Tuesday, June 3rd. UBS Group lifted 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. Citigroup dropped their target price on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Wells Fargo & Company upped their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Finally, Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, GE Aerospace currently has a consensus rating of "Moderate Buy" and a consensus target price of $223.75.

GE Aerospace Trading Up 1.2%

Shares of GE stock traded up $2.92 during trading hours on Friday, hitting $255.49. 7,838,134 shares of the company's stock traded hands, compared to its average volume of 5,547,749. The stock has a market cap of $272.45 billion, a PE ratio of 39.73, a price-to-earnings-growth ratio of 3.08 and a beta of 1.37. The stock's 50 day simple moving average is $239.17 and its 200 day simple moving average is $208.78. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $260.55.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.20. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. On average, sell-side analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.56%. GE Aerospace's dividend payout ratio is presently 22.40%.

Insider Activity at GE Aerospace

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

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.