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

Truist Financial Corp lowered its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 2.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 223,657 shares of the company's stock after selling 4,677 shares during the period. Truist Financial Corp's holdings in GE Aerospace were worth $44,765,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Copia Wealth Management raised its position in GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after acquiring an additional 142 shares in the last quarter. New Age Alpha Advisors LLC lifted its holdings in shares of 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 purchasing an additional 84 shares during the period. O Brien Wealth Partners LLC bought a new position in GE Aerospace during the first quarter worth $33,000. Sumitomo Mitsui Financial Group Inc. bought a new position in GE Aerospace during the fourth quarter worth $28,000. Finally, First Pacific Financial increased its position in shares of GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after acquiring an additional 52 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on GE shares. Citigroup cut their price objective 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 increased their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. UBS Group upped their price target on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Finally, Royal Bank Of Canada set a $275.00 price objective on GE Aerospace and gave the company an "outperform" rating in a research report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, GE Aerospace has an average rating of "Moderate Buy" and an average target price of $223.75.

Insider Buying and Selling

In other news, SVP Mohamed Ali sold 1,602 shares of the business'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 transaction, the senior vice president owned 8,805 shares in the company, valued at $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the firm'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 transaction, the vice president owned 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 currently owned by company insiders.

GE Aerospace Trading Down 0.6%

NYSE:GE traded down $1.54 on Tuesday, hitting $247.11. 5,974,468 shares of the stock were exchanged, compared to its average volume of 5,514,722. The company's 50-day moving average price is $235.34 and its 200 day moving average price is $206.79. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $260.55. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. The stock has a market capitalization of $263.52 billion, a price-to-earnings ratio of 38.43, a P/E/G ratio of 2.98 and a beta of 1.37.

GE Aerospace (NYSE:GE - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.20. The firm had revenue of $9.94 billion for the quarter, compared to analysts' expectations 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 forecast 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 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 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.