WASHINGTON TRUST Co Sells 1,052 Shares of GE Aerospace (NYSE:GE)

WASHINGTON TRUST Co decreased its holdings in GE Aerospace (NYSE:GE - Free Report) by 17.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,001 shares of the company's stock after selling 1,052 shares during the quarter. WASHINGTON TRUST Co's holdings in GE Aerospace were worth $1,001,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Nicholson Meyer Capital Management Inc. bought a new stake in GE Aerospace during the first quarter worth $844,000. MorganRosel Wealth Management LLC bought a new stake in shares of GE Aerospace during the 1st quarter worth $129,000. Valley National Advisers Inc. boosted its holdings in shares of GE Aerospace by 4.6% in the 1st quarter. Valley National Advisers Inc. now owns 1,608 shares of the company's stock worth $321,000 after buying an additional 71 shares during the last quarter. Jacobsen Capital Management grew its position in GE Aerospace by 3.4% during the first quarter. Jacobsen Capital Management now owns 2,013 shares of the company's stock valued at $403,000 after buying an additional 66 shares during the period. Finally, Ameritas Advisory Services LLC increased its holdings in GE Aerospace by 1.0% during the first quarter. Ameritas Advisory Services LLC now owns 11,866 shares of the company's stock worth $2,375,000 after buying an additional 121 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

Insider Buying and Selling at GE Aerospace

In related news, VP Robert M. Giglietti sold 4,104 shares of the business's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Mohamed Ali sold 1,602 shares of GE Aerospace 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 completion of the sale, the senior vice president owned 8,805 shares in the company, valued at approximately $1,766,899.35. This represents 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.

Analysts Set New Price Targets

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

GE Aerospace Price Performance

Shares of NYSE GE traded down $8.07 during midday trading on Tuesday, hitting $249.32. 6,923,585 shares of the company's stock were exchanged, compared to its average volume of 5,499,724. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90. The business's fifty day moving average price is $230.21 and its two-hundred day moving average price is $203.91. The company has a market cap of $265.87 billion, a price-to-earnings ratio of 38.77, a PEG ratio of 3.07 and a beta of 1.38. 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 (EPS) for the quarter, topping analysts' consensus estimates of $1.29 by $0.20. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. As a group, research analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

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