Benin Management CORP Lowers Holdings in GE Aerospace (NYSE:GE)

Benin Management CORP decreased its holdings in GE Aerospace (NYSE:GE) by 1.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,199 shares of the company’s stock after selling 99 shares during the period. Benin Management CORP’s holdings in GE Aerospace were worth $1,041,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of GE. Truvestments Capital LLC increased its holdings in GE Aerospace by 26.2% in the fourth quarter. Truvestments Capital LLC now owns 236 shares of the company’s stock worth $39,000 after buying an additional 49 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its stake in shares of GE Aerospace by 17.6% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company’s stock valued at $56,000 after purchasing an additional 50 shares during the last quarter. Ballast Advisors LLC boosted its holdings in GE Aerospace by 2.5% in the fourth quarter. Ballast Advisors LLC now owns 2,093 shares of the company’s stock worth $349,000 after purchasing an additional 51 shares in the last quarter. Blue Barn Wealth LLC raised its holdings in GE Aerospace by 3.8% during the fourth quarter. Blue Barn Wealth LLC now owns 1,466 shares of the company’s stock valued at $245,000 after buying an additional 54 shares in the last quarter. Finally, First Heartland Consultants Inc. boosted its stake in shares of GE Aerospace by 1.2% during the 4th quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company’s stock worth $789,000 after acquiring an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Transactions at GE Aerospace

In other news, SVP Mohamed Ali sold 1,602 shares of the company’s stock in a transaction that occurred on 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 owns 8,805 shares in the company, valued at $1,766,899.35. This represents a 15.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction on 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 sale, the vice president now owns 11,540 shares of the company’s stock, valued at approximately $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 insiders.

Analyst Upgrades and Downgrades

GE has been the topic of a number of recent analyst reports. Citigroup dropped their price objective on GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Royal Bank of Canada increased their price target on shares of GE Aerospace from $220.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday. UBS Group increased their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Wells Fargo & Company upped 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. Finally, Northcoast Research cut GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $221.15.

GE Aerospace Stock Performance

Shares of GE stock opened at $248.89 on Wednesday. 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 has a 52 week low of $150.20 and a 52 week high of $250.50. The company’s 50 day moving average price is $206.85 and its two-hundred day moving average price is $194.65. The company has a market capitalization of $265.41 billion, a P/E ratio of 41.55, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38.

GE Aerospace (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating 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 company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. On average, analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

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.