GE Aerospace (NYSE:GE) Shares Sold by Trust Point Inc.

Trust Point Inc. decreased its holdings in shares of GE Aerospace (NYSE:GE) by 27.5% in the 1st quarter, Holdings Channel.com reports. The fund owned 4,666 shares of the company’s stock after selling 1,769 shares during the quarter. Trust Point Inc.’s holdings in GE Aerospace were worth $934,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Cyndeo Wealth Partners LLC grew its stake in shares of GE Aerospace by 18.6% in the first quarter. Cyndeo Wealth Partners LLC now owns 3,660 shares of the company’s stock valued at $732,000 after buying an additional 574 shares in the last quarter. Hanson & Doremus Investment Management grew its stake in shares of GE Aerospace by 70.6% in the first quarter. Hanson & Doremus Investment Management now owns 6,449 shares of the company’s stock valued at $1,291,000 after buying an additional 2,668 shares in the last quarter. Optas LLC grew its stake in shares of GE Aerospace by 3.5% in the first quarter. Optas LLC now owns 7,823 shares of the company’s stock valued at $1,566,000 after buying an additional 266 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of GE Aerospace by 23.1% in the first quarter. Exchange Traded Concepts LLC now owns 69,365 shares of the company’s stock valued at $13,883,000 after buying an additional 13,009 shares in the last quarter. Finally, Prentice Wealth Management LLC grew its stake in shares of GE Aerospace by 5.3% in the first quarter. Prentice Wealth Management LLC now owns 2,664 shares of the company’s stock valued at $533,000 after buying an additional 134 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

GE Aerospace Stock Down 1.6%

GE Aerospace stock opened at $236.07 on Monday. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $257.47. 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 stock has a market cap 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 stock’s fifty day moving average is $216.42 and its two-hundred day moving average is $198.48.

GE Aerospace (NYSE:GE) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share 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 analysts’ expectations of $9.06 billion. On average, sell-side analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

Insider Buying and Selling at GE Aerospace

In other news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction dated 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 approximately $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 accessible through this link. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction dated Thursday, April 24th. The stock was 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 $2,270,264.20. This trade represents a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GE has been the subject of a number of research reports. Northcoast Research cut GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. UBS Group lifted their target price on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Wells Fargo & Company lifted their target price on GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Citigroup decreased their target price on GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, Redburn Atlantic started coverage on GE Aerospace in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, GE Aerospace presently has a consensus rating of “Moderate Buy” and an average target price of $221.15.

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.