Versant Capital Management Inc Sells 2,309 Shares of GE Aerospace (NYSE:GE)

Versant Capital Management Inc reduced its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 12.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 15,871 shares of the company's stock after selling 2,309 shares during the period. Versant Capital Management Inc's holdings in GE Aerospace were worth $3,177,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of GE. Chung Wu Investment Group LLC bought a new position in shares of GE Aerospace during the 4th quarter worth approximately $795,000. National Bank of Canada FI lifted its holdings in GE Aerospace by 2.9% during the 4th quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock valued at $177,535,000 after purchasing an additional 29,844 shares during the last quarter. National Pension Service lifted its holdings in GE Aerospace by 1.7% during the 4th quarter. National Pension Service now owns 2,254,637 shares of the company's stock valued at $376,051,000 after purchasing an additional 37,884 shares during the last quarter. FourThought Financial Partners LLC acquired a new stake in GE Aerospace during the 4th quarter valued at $507,000. Finally, Invesco Ltd. lifted its holdings in GE Aerospace by 14.4% during the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock valued at $1,591,970,000 after purchasing an additional 1,204,910 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at GE Aerospace

In related news, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction that occurred 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 in the company, valued at $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the company'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 completion of the sale, the vice president now owns 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 disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Citigroup cut their price target on 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 lifted 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. UBS Group boosted their target price on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Redburn Atlantic assumed coverage on GE Aerospace in a research note on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price for the company. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $220.00 target price on shares of GE Aerospace in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, GE Aerospace has an average rating of "Moderate Buy" and an average target price of $216.92.

GE Aerospace Trading Up 0.7%

Shares of NYSE:GE traded up $1.68 during midday trading on Friday, hitting $245.84. 9,141,246 shares of the stock were exchanged, compared to its average volume of 5,381,044. The stock has a market capitalization of $262.16 billion, a price-to-earnings ratio of 41.04, a P/E/G ratio of 2.59 and a beta of 1.31. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The business's 50-day moving average price is $205.20 and its 200 day moving average price is $193.60. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $246.84.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.20. The company 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 22.19% and a net margin of 14.31%. Analysts predict that GE Aerospace will post 5.4 earnings per share for the current 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.