Zurich Insurance Group Ltd FI Reduces Holdings in GE Aerospace (NYSE:GE)

Zurich Insurance Group Ltd FI lowered its holdings in GE Aerospace (NYSE:GE - Free Report) by 55.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 318,675 shares of the company's stock after selling 400,439 shares during the period. Zurich Insurance Group Ltd FI's holdings in GE Aerospace were worth $53,152,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. New Age Alpha Advisors LLC raised its stake in shares of GE Aerospace by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after buying an additional 84 shares during the period. Hager Investment Management Services LLC bought a new stake in GE Aerospace in the 4th quarter valued at about $27,000. Sumitomo Mitsui Financial Group Inc. purchased a new stake in GE Aerospace during the fourth quarter valued at about $28,000. Sugar Maple Asset Management LLC bought a new position in GE Aerospace during the fourth quarter worth about $29,000. Finally, CBIZ Investment Advisory Services LLC purchased a new position in shares of GE Aerospace in the fourth quarter worth about $29,000. Institutional investors own 74.77% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GE shares. JPMorgan Chase & Co. raised their price target on GE Aerospace from $190.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Royal Bank of Canada reissued an "outperform" rating and issued a $220.00 price target on shares of GE Aerospace in a report on Wednesday, April 23rd. 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 research report on Thursday, April 10th. Wells Fargo & Company upped 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. Finally, Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $216.92.

Insider Buying and Selling

In related news, 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 transaction, the vice president now directly owns 11,540 shares of the company's stock, valued at $2,270,264.20. The trade was a 26.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Mohamed Ali sold 1,602 shares of the firm's 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 completion of the sale, the senior vice president now directly owns 8,805 shares in the company, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

GE Aerospace Price Performance

GE stock traded down $3.38 during mid-day trading on Thursday, hitting $230.16. 6,903,838 shares of the stock were exchanged, compared to its average volume of 5,347,164. The business has a fifty day moving average price of $200.56 and a 200 day moving average price of $190.76. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $237.30. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The stock has a market capitalization of $245.44 billion, a price-to-earnings ratio of 38.42, a PEG ratio of 2.59 and a beta of 1.31.

GE Aerospace (NYSE:GE - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.20. The business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. On average, sell-side analysts anticipate that GE Aerospace will post 5.4 EPS 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.