Rakuten Securities Inc. Reduces Position in GE Aerospace (NYSE:GE)

Rakuten Securities Inc. trimmed its position in GE Aerospace (NYSE:GE) by 17.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 468 shares of the company’s stock after selling 101 shares during the quarter. Rakuten Securities Inc.’s holdings in GE Aerospace were worth $94,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GE. Vanguard Group Inc. increased its position in shares of GE Aerospace by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company’s stock worth $14,980,297,000 after purchasing an additional 410,172 shares in the last quarter. FMR LLC increased its holdings in shares of GE Aerospace by 1.5% in the fourth quarter. FMR LLC now owns 66,823,968 shares of the company’s stock valued at $11,145,570,000 after purchasing an additional 965,012 shares during the period. Geode Capital Management LLC raised its position in GE Aerospace by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company’s stock worth $3,846,587,000 after buying an additional 529,457 shares during the last quarter. Norges Bank purchased a new position in GE Aerospace during the fourth quarter worth about $2,375,439,000. Finally, Northern Trust Corp boosted its holdings in GE Aerospace by 5.8% in the 4th quarter. Northern Trust Corp now owns 10,046,867 shares of the company’s stock valued at $1,675,717,000 after purchasing an additional 553,104 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Citigroup decreased their price target 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. Wells Fargo & Company upped their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Royal Bank Of Canada set a $275.00 price target on shares of GE Aerospace and gave the company an “outperform” rating in a report on Tuesday, June 3rd. Redburn Atlantic assumed coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective on the stock. Finally, Northcoast Research cut shares of GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Two research 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 presently has a consensus rating of “Moderate Buy” and an average target price of $221.15.

Insider Buying and Selling at GE Aerospace

In other news, VP Robert M. Giglietti sold 4,104 shares of the company’s 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 sale, the vice president now directly owns 11,540 shares in the company, valued at $2,270,264.20. This represents a 26.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the 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 sale, the senior vice president now directly owns 8,805 shares in the company, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

GE Aerospace Stock Performance

NYSE:GE opened at $235.49 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $251.12 billion, a P/E ratio of 36.62, a price-to-earnings-growth ratio of 2.85 and a beta of 1.38. The firm has a 50-day moving average price of $218.73 and a two-hundred day moving average price of $199.12. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $257.47.

GE Aerospace (NYSE:GE) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.20. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The business had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.06 billion. As a group, research analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace 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.