Royal Bank of Canada Grows Stock Holdings in GE Aerospace (NYSE:GE)

Royal Bank of Canada grew its stake in shares of GE Aerospace (NYSE:GE) by 8.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,837,935 shares of the company’s stock after buying an additional 309,651 shares during the period. Royal Bank of Canada owned 0.36% of GE Aerospace worth $640,130,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Chung Wu Investment Group LLC purchased a new stake in shares of GE Aerospace during the 4th quarter valued at $795,000. National Bank of Canada FI grew its stake in shares of GE Aerospace by 2.9% during 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% during the 4th quarter. National Pension Service now owns 2,254,637 shares of the company’s stock valued at $376,051,000 after buying an additional 37,884 shares during the period. Sanibel Captiva Trust Company Inc. grew its stake in shares of GE Aerospace by 28.4% during the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 25,808 shares of the company’s stock valued at $4,305,000 after buying an additional 5,710 shares during the period. Finally, FourThought Financial Partners LLC purchased a new stake in shares of GE Aerospace during the 4th quarter valued at $507,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GE has been the subject of a number of research reports. UBS Group upped their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Northcoast Research raised shares of GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 price target for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. upped their price target on shares of GE Aerospace from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $220.00 price target on shares of GE Aerospace in a research report on Wednesday, April 23rd. Finally, Redburn Atlantic initiated coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target for the company. One investment 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 a consensus rating of “Moderate Buy” and a consensus price target of $216.92.

GE Aerospace Stock Performance

Shares of GE stock opened at $231.86 on Friday. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $232.32. 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 firm 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’s fifty day moving average price is $198.19 and its two-hundred day moving average price is $189.48.

GE Aerospace (NYSE:GE) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 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 for the quarter, compared to analyst estimates of $9.06 billion. On average, research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Robert M. Giglietti sold 4,104 shares of the company’s 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 sale, the vice president now owns 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the sale, the senior vice president now 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 currently owned by company insiders.

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.