Bogart Wealth LLC Cuts Position in GE Aerospace (NYSE:GE)

Bogart Wealth LLC lowered its position in GE Aerospace (NYSE:GE) by 11.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 472 shares of the company’s stock after selling 63 shares during the period. Bogart Wealth LLC’s holdings in GE Aerospace were worth $94,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GE. Norges Bank purchased a new stake in GE Aerospace during the 4th quarter worth about $2,375,439,000. GAMMA Investing LLC increased its position in GE Aerospace by 23,611.7% during the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company’s stock worth $1,013,959,000 after purchasing an additional 5,044,632 shares in the last quarter. Janus Henderson Group PLC increased its position in GE Aerospace by 87.7% during the 4th quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company’s stock worth $597,412,000 after purchasing an additional 1,673,365 shares in the last quarter. Invesco Ltd. increased its position in GE Aerospace by 14.4% during the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company’s stock worth $1,591,970,000 after purchasing an additional 1,204,910 shares in the last quarter. Finally, FMR LLC increased its position in GE Aerospace by 1.5% during the 4th quarter. FMR LLC now owns 66,823,968 shares of the company’s stock worth $11,145,570,000 after purchasing an additional 965,012 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on GE shares. Citigroup lifted their price objective on GE Aerospace from $227.00 to $296.00 and gave the stock a “buy” rating in a research report on Monday. Wells Fargo & Company lifted 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. Northcoast Research cut GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Royal Bank Of Canada set a $275.00 price target on GE Aerospace and gave the stock an “outperform” rating in a research note on Tuesday, June 3rd. Finally, UBS Group raised their price target on GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, GE Aerospace has a consensus rating of “Moderate Buy” and a consensus target price of $229.50.

GE Aerospace Stock Performance

NYSE GE opened at $262.31 on Tuesday. The firm has a market capitalization of $279.72 billion, a P/E ratio of 40.79, a P/E/G ratio of 3.06 and a beta of 1.37. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $262.94. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.08 and a quick ratio of 0.77. The business’s 50-day simple moving average is $240.24 and its 200-day simple moving average is $209.68.

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. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. Equities analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.55%. GE Aerospace’s dividend payout ratio is currently 22.40%.

Insider Activity

In related news, SVP Mohamed Ali sold 1,602 shares of the firm’s 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 directly owned 8,805 shares in the company, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the firm’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the sale, the vice president owned 11,540 shares in the company, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% 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.