Trust Point Inc. Sells 1,769 Shares of GE Aerospace (NYSE:GE)

Trust Point Inc. lessened its stake in GE Aerospace (NYSE:GE - Free Report) by 27.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,666 shares of the company's stock after selling 1,769 shares during the quarter. Trust Point Inc.'s holdings in GE Aerospace were worth $934,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GE. Vanguard Group Inc. raised its holdings in GE Aerospace by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company's stock worth $14,980,297,000 after buying an additional 410,172 shares during the period. FMR LLC increased its position in shares of GE Aerospace by 1.5% during the fourth quarter. FMR LLC now owns 66,823,968 shares of the company's stock worth $11,145,570,000 after acquiring an additional 965,012 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of GE Aerospace by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company's stock worth $3,846,587,000 after acquiring an additional 529,457 shares during the period. Norges Bank bought a new stake in GE Aerospace in the 4th quarter valued at $2,375,439,000. Finally, Northern Trust Corp boosted its stake in GE Aerospace by 5.8% in the 4th quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock worth $1,675,717,000 after purchasing an additional 553,104 shares during the period. Institutional investors own 74.77% of the company's stock.

Insider Buying and Selling at GE Aerospace

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the company'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 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 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 $1,766,899.35. This represents a 15.39% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

GE has been the topic of a number of research reports. Citigroup cut their price target on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Royal Bank of Canada set a $275.00 target price on GE Aerospace and gave the company an "outperform" rating in a research note on Tuesday, June 3rd. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Redburn Atlantic started coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price objective on the stock. Finally, 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. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $221.15.

GE Aerospace Stock Performance

Shares of GE stock traded down $0.22 on Monday, reaching $236.38. The stock had a trading volume of 4,396,429 shares, compared to its average volume of 5,419,965. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $257.47. The firm has a market capitalization of $252.07 billion, a price-to-earnings ratio of 39.46, a P/E/G ratio of 2.59 and a beta of 1.38. The firm's 50-day moving average is $216.42 and its two-hundred day moving average is $198.48. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data 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. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. On average, research analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

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.