WNY Asset Management LLC Cuts Stock Holdings in GE Aerospace (NYSE:GE)

WNY Asset Management LLC trimmed its position in shares of GE Aerospace (NYSE:GE) by 30.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,982 shares of the company’s stock after selling 873 shares during the quarter. WNY Asset Management LLC’s holdings in GE Aerospace were worth $331,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Chung Wu Investment Group LLC acquired a new stake in GE Aerospace in the fourth quarter valued at approximately $795,000. National Bank of Canada FI grew its holdings in GE Aerospace by 2.9% in the fourth quarter. National Bank of Canada FI now owns 1,064,417 shares of the company’s stock valued at $177,535,000 after purchasing an additional 29,844 shares during the period. National Pension Service grew its holdings in GE Aerospace by 1.7% in the fourth quarter. National Pension Service now owns 2,254,637 shares of the company’s stock valued at $376,051,000 after purchasing an additional 37,884 shares during the period. FourThought Financial Partners LLC acquired a new stake in GE Aerospace in the fourth quarter valued at approximately $507,000. Finally, Invesco Ltd. grew its holdings 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 during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Stock Performance

Shares of GE Aerospace stock opened at $232.86 on Monday. GE Aerospace has a one year low of $150.20 and a one year high of $237.30. The company has a market cap of $248.32 billion, a price-to-earnings ratio of 38.87, a PEG 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. The business’s 50 day moving average price is $201.76 and its 200 day moving average price is $191.72.

GE Aerospace (NYSE:GE) last announced 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 return on equity of 22.19% and a net margin of 14.31%. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. On average, research analysts predict that GE Aerospace will post 5.4 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GE. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $220.00 price target on shares of GE Aerospace in a research note on Wednesday, April 23rd. Wells Fargo & Company lifted their price target on GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. UBS Group lifted their price target on GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Bank of America lifted their price target on GE Aerospace from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Redburn Atlantic began coverage on GE Aerospace in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, GE Aerospace has a consensus rating of “Moderate Buy” and a consensus price target of $216.92.

Insider Buying and Selling

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction on Tuesday, April 29th. The stock was 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. The trade was a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction on 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 sale, the vice president now owns 11,540 shares in the company, valued at $2,270,264.20. This represents a 26.23% 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.