GE Aerospace (NYSE:GE) Trading Down 1.7% – Time to Sell?

GE Aerospace (NYSE:GE)’s share price fell 1.7% on Thursday . The company traded as low as $238.68 and last traded at $241.27. 3,499,537 shares were traded during trading, a decline of 35% from the average session volume of 5,410,522 shares. The stock had previously closed at $245.52.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GE. Wells Fargo & Company increased their price objective on GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Citigroup reduced their price target on GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Redburn Atlantic assumed coverage on GE Aerospace in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target for the company. Northcoast Research cut GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Finally, UBS Group raised their price target on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.15.

GE Aerospace Stock Down 1.6%

The stock has a market capitalization of $251.74 billion, a PE ratio of 39.41, a P/E/G ratio of 2.59 and a beta of 1.38. The firm has a 50 day moving average of $216.42 and a two-hundred day moving average of $198.24. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $9.06 billion. Equities research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction on Thursday, April 24th. The stock was 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 of the company’s stock, valued at $2,270,264.20. The trade was a 26.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the sale, the senior vice president now directly owns 8,805 shares of the company’s stock, valued at approximately $1,766,899.35. This 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.

Institutional Investors Weigh In On GE Aerospace

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new position in GE Aerospace in the fourth quarter valued at $2,375,439,000. GQG Partners LLC acquired a new position in GE Aerospace in the first quarter valued at $1,606,840,000. GAMMA Investing LLC boosted its holdings in GE Aerospace by 23,611.7% in the first quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company’s stock valued at $1,013,959,000 after acquiring an additional 5,044,632 shares during the last quarter. Nuveen LLC acquired a new position in GE Aerospace in the first quarter valued at $777,075,000. Finally, Amundi boosted its holdings in GE Aerospace by 124.0% in the first quarter. Amundi now owns 3,200,479 shares of the company’s stock valued at $600,506,000 after acquiring an additional 1,771,944 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

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.