Zurich Insurance Group Ltd FI Sells 400,439 Shares of GE Aerospace (NYSE:GE)

Zurich Insurance Group Ltd FI decreased its stake in GE Aerospace (NYSE:GE) by 55.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 318,675 shares of the company’s stock after selling 400,439 shares during the period. Zurich Insurance Group Ltd FI’s holdings in GE Aerospace were worth $53,152,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Chung Wu Investment Group LLC bought a new position in GE Aerospace during the fourth quarter worth $795,000. National Bank of Canada FI raised its stake in GE Aerospace by 2.9% during the fourth quarter. National Bank of Canada FI now owns 1,064,417 shares of the company’s stock worth $177,535,000 after buying an additional 29,844 shares during the last quarter. National Pension Service raised its stake in GE Aerospace by 1.7% during the fourth quarter. National Pension Service now owns 2,254,637 shares of the company’s stock worth $376,051,000 after buying an additional 37,884 shares during the last quarter. FourThought Financial Partners LLC bought a new position in GE Aerospace during the fourth quarter worth $507,000. Finally, Invesco Ltd. increased its stake in GE Aerospace by 14.4% in the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company’s stock valued at $1,591,970,000 after purchasing an additional 1,204,910 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on GE. JPMorgan Chase & Co. lifted their price target on shares of GE Aerospace from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Bank of America lifted their price target on shares of GE Aerospace from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Citigroup reduced their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Wells Fargo & Company lifted their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Finally, UBS Group lifted their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $216.92.

GE Aerospace Stock Up 1.4%

GE Aerospace stock opened at $235.01 on Tuesday. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $235.87. The stock has a market cap of $250.61 billion, a PE ratio of 39.23, a price-to-earnings-growth ratio of 2.59 and a beta of 1.31. The firm’s 50-day simple moving average is $198.98 and its 200 day simple moving average is $190.15. 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 (NYSE:GE) last released 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 net margin of 14.31% and a return on equity of 22.19%. The business had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.06 billion. Research analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

Insider Buying and Selling at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the business’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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the business’s stock in a transaction dated 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 approximately $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. Corporate insiders own 0.21% of the company’s stock.

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.