GE Aerospace (NYSE:GE) Shares Sold by Columbia Asset Management

Columbia Asset Management decreased its holdings in GE Aerospace (NYSE:GE) by 72.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 7,663 shares of the company’s stock after selling 20,011 shares during the period. Columbia Asset Management’s holdings in GE Aerospace were worth $1,534,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GE. Norges Bank purchased a new stake in shares of GE Aerospace during the fourth quarter worth about $2,375,439,000. GAMMA Investing LLC grew its position in shares of GE Aerospace by 23,611.7% during the first quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company’s stock worth $1,013,959,000 after buying an additional 5,044,632 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of GE Aerospace by 87.7% in the fourth quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company’s stock worth $597,412,000 after buying an additional 1,673,365 shares during the last quarter. Invesco Ltd. increased its stake in shares of GE Aerospace by 14.4% in the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company’s stock worth $1,591,970,000 after buying an additional 1,204,910 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in GE Aerospace in the fourth quarter valued at $194,208,000. 74.77% of the stock is owned by institutional investors and hedge funds.

GE Aerospace Price Performance

Shares of NYSE:GE opened at $250.97 on Thursday. The company has a market cap of $267.63 billion, a P/E ratio of 41.90, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $253.06. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The company’s fifty day moving average is $207.88 and its two-hundred day moving average is $195.04.

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, topping analysts’ consensus estimates of $1.29 by $0.20. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. Equities analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Royal Bank of Canada raised their price objective on shares of GE Aerospace from $220.00 to $275.00 and gave the stock an “outperform” rating in a report on Tuesday. Redburn Atlantic began coverage on GE Aerospace in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target for the company. Northcoast Research lowered GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Citigroup reduced their target price on GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Finally, UBS Group boosted their price target on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, GE Aerospace currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.15.

Insider Buying and Selling at GE Aerospace

In related news, VP Robert M. Giglietti sold 4,104 shares of the business’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the transaction, the vice president now owns 11,540 shares of the company’s stock, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the company’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the transaction, the senior vice president now owns 8,805 shares of the company’s stock, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

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.