Insider Selling: GE Aerospace (NYSE:GE) SVP Sells 1,602 Shares of Stock

GE Aerospace (NYSE:GE) SVP Mohamed Ali sold 1,602 shares of the company’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the transaction, the senior vice president now owns 8,805 shares in the company, valued at $1,766,899.35. This represents a 15.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

GE Aerospace Trading Up 1.1 %

Shares of NYSE:GE opened at $203.72 on Friday. The stock has a 50 day moving average of $194.14 and a 200 day moving average of $187.00. The company has a market cap of $217.24 billion, a PE ratio of 34.01, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $214.21. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE) last announced 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. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The firm had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.06 billion. As a group, equities research analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, March 10th were paid a $0.36 dividend. This is a positive change from GE Aerospace’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.71%. GE Aerospace’s dividend payout ratio is 22.40%.

Institutional Trading of GE Aerospace

Several institutional investors and hedge funds have recently added to or reduced their stakes in GE. New Age Alpha Advisors LLC grew its holdings in GE Aerospace by 133.3% during the 4th 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 in the last quarter. Hager Investment Management Services LLC purchased a new position in GE Aerospace during the fourth quarter valued at $27,000. Sumitomo Mitsui Financial Group Inc. bought a new stake in GE Aerospace in the 4th quarter valued at $28,000. Putney Financial Group LLC purchased a new stake in GE Aerospace in the 4th quarter worth $28,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in GE Aerospace in the 4th quarter worth $29,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GE. Royal Bank of Canada reissued an “outperform” rating and set a $220.00 price objective on shares of GE Aerospace in a report on Wednesday, April 23rd. Wells Fargo & Company increased their price target on GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Redburn Atlantic assumed coverage on GE Aerospace in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective for the company. Northcoast Research raised GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 target price on the stock in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. boosted their price target on GE Aerospace from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, GE Aerospace presently has a consensus rating of “Moderate Buy” and a consensus price target of $216.92.

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.