GE Aerospace (NYSE:GE) Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 2.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 223,657 shares of the company's stock after selling 4,677 shares during the quarter. Truist Financial Corp's holdings in GE Aerospace were worth $44,765,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GE. Copia Wealth Management raised its stake in shares of GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after purchasing an additional 142 shares in the last quarter. New Age Alpha Advisors LLC lifted its holdings in GE Aerospace by 133.3% during the 4th 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 last quarter. O Brien Wealth Partners LLC bought a new position in GE Aerospace during the 1st quarter worth approximately $33,000. Sumitomo Mitsui Financial Group Inc. bought a new position in GE Aerospace during the 4th quarter worth approximately $28,000. Finally, First Pacific Financial lifted its holdings in GE Aerospace by 46.0% during the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after buying an additional 52 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the sale, the senior vice president owned 8,805 shares of the company's stock, valued at $1,766,899.35. The trade was a 15.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace 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 sale, the vice president directly owned 11,540 shares in the company, valued at $2,270,264.20. The trade was a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GE has been the topic of a number of research analyst reports. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. UBS Group increased their target price on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Royal Bank Of Canada set a $275.00 target price on GE Aerospace and gave the stock an "outperform" rating in a report on Tuesday, June 3rd. Citigroup reduced their target price on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, Wells Fargo & Company increased their target price on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $223.75.

GE Aerospace Stock Performance

Shares of NYSE GE traded up $2.03 during mid-day trading on Monday, hitting $248.91. The company had a trading volume of 5,335,189 shares, compared to its average volume of 5,512,799. The stock has a market cap of $265.44 billion, a price-to-earnings ratio of 38.71, a PEG ratio of 2.98 and a beta of 1.37. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $260.55. 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 firm's 50 day simple moving average is $234.38 and its two-hundred day simple moving average is $206.23.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.20. The firm had revenue of $9.94 billion for 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%. As a group, equities research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.58%. GE Aerospace's payout ratio is currently 22.40%.

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.