Arrow Financial Corp Reduces Stock Position in GE Aerospace (NYSE:GE)

Arrow Financial Corp reduced its holdings in shares of GE Aerospace (NYSE:GEFree Report) by 2.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,119 shares of the company’s stock after selling 65 shares during the quarter. Arrow Financial Corp’s holdings in GE Aerospace were worth $624,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of GE Aerospace in the 4th quarter worth $2,375,439,000. GAMMA Investing LLC boosted its stake in shares of GE Aerospace by 23,611.7% in the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company’s stock valued at $1,013,959,000 after purchasing an additional 5,044,632 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of GE Aerospace by 87.7% in the 4th quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company’s stock valued at $597,412,000 after purchasing an additional 1,673,365 shares in the last quarter. Invesco Ltd. boosted its stake in shares of GE Aerospace by 14.4% in the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company’s stock valued at $1,591,970,000 after purchasing an additional 1,204,910 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of GE Aerospace by 1.5% in the 4th 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 in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Robert M. Giglietti sold 4,104 shares of the company’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following the completion of the sale, the vice president owned 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the business’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the transaction, the senior vice president directly owned 8,805 shares of the company’s stock, valued at $1,766,899.35. This represents 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.

Analyst Ratings Changes

Several research firms have recently commented on GE. Northcoast Research cut shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Citigroup reiterated a “buy” rating and issued a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Royal Bank Of Canada increased their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday. UBS Group increased their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Wall Street Zen upgraded shares of GE Aerospace from a “hold” rating to a “buy” rating in a research note on Friday. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $240.33.

View Our Latest Research Report on GE Aerospace

GE Aerospace Price Performance

GE stock opened at $260.62 on Monday. The company has a market capitalization of $277.92 billion, a PE ratio of 36.36, a P/E/G ratio of 3.05 and a beta of 1.37. The stock’s 50 day moving average is $244.37 and its two-hundred day moving average is $212.37. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $272.80.

GE Aerospace (NYSE:GEGet Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.23. The company had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The company’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 EPS. Analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.55%. GE Aerospace’s dividend payout ratio is 20.08%.

GE Aerospace Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for GE Aerospace (NYSE:GE)

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