DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Sells 1,711,942 Shares of GE Aerospace (NYSE:GE)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main reduced its position in GE Aerospace (NYSE:GE) by 28.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,333,626 shares of the company’s stock after selling 1,711,942 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned 0.40% of GE Aerospace worth $722,805,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GE. New Age Alpha Advisors LLC lifted its stake in GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock worth $25,000 after purchasing an additional 84 shares in the last quarter. Hager Investment Management Services LLC purchased a new position in GE Aerospace during the fourth quarter worth about $27,000. Sumitomo Mitsui Financial Group Inc. bought a new position in GE Aerospace in the 4th quarter worth about $28,000. Sugar Maple Asset Management LLC bought a new stake in shares of GE Aerospace during the 4th quarter valued at about $29,000. Finally, CBIZ Investment Advisory Services LLC bought a new stake in shares of GE Aerospace during the 4th quarter valued at about $29,000. Institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Performance

Shares of NYSE:GE opened at $209.90 on Thursday. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The company has a market cap of $223.83 billion, a price-to-earnings ratio of 35.04, a price-to-earnings-growth ratio of 2.59 and a beta of 1.31. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $214.21. The company has a 50-day moving average price of $194.66 and a 200-day moving average price of $187.47.

GE Aerospace (NYSE:GE) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.20. The firm had revenue of $9.94 billion for 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%. As a group, equities analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, March 10th were given a dividend of $0.36 per share. The ex-dividend date was Monday, March 10th. This represents a $1.44 annualized dividend and a dividend yield of 0.69%. This is a boost from GE Aerospace’s previous quarterly dividend of $0.28. GE Aerospace’s payout ratio is currently 22.40%.

Insider Buying and Selling

In related news, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the business’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the sale, the senior vice president now directly owns 8,805 shares in the company, valued at $1,766,899.35. The trade was a 15.39 % decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GE shares. Redburn Atlantic started coverage on shares of GE Aerospace in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target 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 research note on Wednesday, April 9th. JPMorgan Chase & Co. lifted their price target on GE Aerospace from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Bank of America increased their price objective on GE Aerospace from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $220.00 target price on shares of GE Aerospace in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, GE Aerospace 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.