Lazard Asset Management LLC Sells 1,553 Shares of GE Aerospace (NYSE:GE)

Lazard Asset Management LLC reduced its stake in GE Aerospace (NYSE:GE - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,548 shares of the company's stock after selling 1,553 shares during the period. Lazard Asset Management LLC's holdings in GE Aerospace were worth $3,427,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Chung Wu Investment Group LLC purchased a new position in shares of GE Aerospace in the fourth quarter valued at approximately $795,000. National Bank of Canada FI boosted its position in GE Aerospace by 2.9% in 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 buying an additional 29,844 shares during the period. National Pension Service grew its stake in shares of GE Aerospace by 1.7% in the fourth quarter. National Pension Service now owns 2,254,637 shares of the company's stock worth $376,051,000 after acquiring an additional 37,884 shares in the last quarter. Sanibel Captiva Trust Company Inc. increased its position in shares of GE Aerospace by 28.4% during the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 25,808 shares of the company's stock worth $4,305,000 after acquiring an additional 5,710 shares during the period. Finally, FourThought Financial Partners LLC acquired a new stake in shares of GE Aerospace in the fourth quarter valued at $507,000. Institutional investors and hedge funds own 74.77% of the company's stock.

Insider Activity at GE Aerospace

In other news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the transaction, the senior vice president now owns 8,805 shares of the company's stock, valued at $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the completion of the transaction, 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. Insiders own 0.21% of the company's stock.

GE Aerospace Price Performance

GE Aerospace stock traded up $3.23 during mid-day trading on Monday, hitting $235.01. The company's stock had a trading volume of 4,727,801 shares, compared to its average volume of 5,347,777. The stock has a market capitalization of $250.61 billion, a P/E ratio of 39.23, a P/E/G ratio of 2.59 and a beta of 1.31. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $235.88. The stock's fifty day moving average price is $198.19 and its two-hundred day moving average price is $189.71. 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 issued its earnings results on Tuesday, April 22nd. The company reported $1.49 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 analysts' expectations of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. Research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on GE shares. Wells Fargo & Company lifted their price objective on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Bank of America lifted their price target on shares of GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Redburn Atlantic assumed coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price objective on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $220.00 price objective on shares of GE Aerospace in a research report on Wednesday, April 23rd. Finally, Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $216.92.

About GE Aerospace

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.