WASHINGTON TRUST Co Cuts Stake in GE Aerospace (NYSE:GE)

WASHINGTON TRUST Co lowered its holdings in shares of GE Aerospace (NYSE:GE) by 17.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 5,001 shares of the company’s stock after selling 1,052 shares during the period. WASHINGTON TRUST Co’s holdings in GE Aerospace were worth $1,001,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in GE. Copia Wealth Management grew its holdings in shares of GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company’s stock worth $29,000 after purchasing an additional 142 shares during the last quarter. New Age Alpha Advisors LLC boosted its position in GE Aerospace by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock valued at $25,000 after buying an additional 84 shares during the period. Sumitomo Mitsui Financial Group Inc. bought a new stake in GE Aerospace in the 4th quarter worth $28,000. First Pacific Financial grew its holdings in GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company’s stock worth $33,000 after acquiring an additional 52 shares during the last quarter. Finally, Putney Financial Group LLC purchased a new position in shares of GE Aerospace in the fourth quarter valued at about $28,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on GE shares. Citigroup dropped their target price on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a report on Thursday, April 10th. UBS Group upped their price target on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada set a $275.00 price objective on GE Aerospace and gave the stock an “outperform” rating in a research report on Tuesday, June 3rd. Wells Fargo & Company boosted their target price on GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Finally, Northcoast Research lowered GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, GE Aerospace presently has a consensus rating of “Moderate Buy” and a consensus target price of $223.75.

Insider Activity

In other news, VP Robert M. Giglietti sold 4,104 shares of the business’s stock in a transaction that occurred 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 directly owned 11,540 shares of the company’s stock, valued at $2,270,264.20. The trade was a 26.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value of $321,473.34. Following the completion of the sale, the senior vice president owned 8,805 shares in the company, valued at $1,766,899.35. The trade was a 15.39% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

GE Aerospace Stock Up 1.1%

Shares of NYSE:GE opened at $257.34 on Tuesday. The firm has a market capitalization of $274.42 billion, a P/E ratio of 40.02, a P/E/G ratio of 3.07 and a beta of 1.38. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. The stock has a 50 day moving average price of $230.21 and a 200-day moving average price of $203.91. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $260.55.

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

GE Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.56%. GE Aerospace’s payout ratio is currently 22.40%.

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.