ProShare Advisors LLC Boosts Stake in GE Aerospace (NYSE:GE)

ProShare Advisors LLC boosted its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 12.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 171,373 shares of the company's stock after acquiring an additional 18,651 shares during the quarter. ProShare Advisors LLC's holdings in GE Aerospace were worth $28,583,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in GE Aerospace by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company's stock worth $14,980,297,000 after acquiring an additional 410,172 shares during the last quarter. FMR LLC increased its stake in 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 during the last quarter. Geode Capital Management LLC increased its stake in 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 last quarter. Norges Bank bought a new stake in GE Aerospace during the fourth quarter worth approximately $2,375,439,000. Finally, Northern Trust Corp increased its stake in GE Aerospace by 5.8% during the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock worth $1,675,717,000 after acquiring an additional 553,104 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GE shares. Royal Bank of Canada reissued an "outperform" rating and set a $220.00 price objective on shares of GE Aerospace in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. upped their target price on GE Aerospace from $190.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Northcoast Research upgraded GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 target price for the company in a report on Wednesday, April 9th. Bank of America upped their target price on GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Finally, Citigroup decreased their price objective on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a report on Thursday, April 10th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, GE Aerospace currently has an average rating of "Moderate Buy" and a consensus target price of $216.92.

Insider Activity

In other news, VP Robert M. Giglietti sold 4,104 shares of the firm'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 sale, the vice president now directly owns 11,540 shares in the company, valued at $2,270,264.20. This trade represents a 26.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the sale, the senior vice president now owns 8,805 shares in the company, valued at $1,766,899.35. This trade represents a 15.39% 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

Shares of GE opened at $231.86 on Friday. The business's 50-day moving average is $198.19 and its two-hundred day moving average is $189.48. The company has a market capitalization of $247.25 billion, a P/E ratio of 38.71, 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. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $232.32.

GE Aerospace (NYSE:GE - Get Free Report) last announced 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. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. Research analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace 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.

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