Insider Selling: GE Aerospace (NYSE:GE) VP Sells 4,104 Shares of Stock

GE Aerospace (NYSE:GE) VP Robert M. Giglietti sold 4,104 shares of GE Aerospace 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 sale, the vice president now owns 11,540 shares of the company’s stock, valued at approximately $2,270,264.20. This trade represents a 26.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

GE Aerospace Trading Up 1.2 %

NYSE GE opened at $200.89 on Tuesday. The company’s fifty day simple moving average is $194.18 and its 200-day simple moving average is $186.72. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $214.21. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The stock has a market cap of $215.61 billion, a P/E ratio of 33.54, a PEG ratio of 2.59 and a beta of 1.04.

GE Aerospace (NYSE:GE) last posted its earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.20. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The business had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.06 billion. Equities research analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, March 10th were given a dividend of $0.36 per share. This is a boost from GE Aerospace’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend was Monday, March 10th. GE Aerospace’s payout ratio is presently 22.40%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GE shares. Wells Fargo & Company lifted their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Citigroup lowered 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. Redburn Atlantic started coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered their target price on shares of GE Aerospace from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $220.00 target price on shares of GE Aerospace in a report on Wednesday, April 23rd. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $216.92.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GE. Vanguard Group Inc. raised its holdings in GE Aerospace by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company’s stock valued at $14,980,297,000 after acquiring an additional 410,172 shares in the last quarter. FMR LLC raised its holdings in 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 acquiring an additional 965,012 shares in the last quarter. Geode Capital Management LLC raised its holdings in GE Aerospace by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company’s stock valued at $3,846,587,000 after acquiring an additional 529,457 shares in the last quarter. Norges Bank acquired a new stake in GE Aerospace in the fourth quarter valued at $2,375,439,000. Finally, Northern Trust Corp raised its holdings in GE Aerospace by 5.8% in the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company’s stock valued at $1,675,717,000 after acquiring an additional 553,104 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

GE Aerospace Company 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.