Moore Capital Management LP Cuts Stake in GE Aerospace (NYSE:GE)

Moore Capital Management LP trimmed its holdings in shares of GE Aerospace (NYSE:GE) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,181 shares of the company’s stock after selling 1,956 shares during the period. Moore Capital Management LP’s holdings in GE Aerospace were worth $9,370,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Truvestments Capital LLC grew its holdings in GE Aerospace by 26.2% in the fourth quarter. Truvestments Capital LLC now owns 236 shares of the company’s stock worth $39,000 after purchasing an additional 49 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE grew its stake in GE Aerospace by 17.6% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company’s stock worth $56,000 after buying an additional 50 shares during the last quarter. Ballast Advisors LLC increased its position in GE Aerospace by 2.5% during the 4th quarter. Ballast Advisors LLC now owns 2,093 shares of the company’s stock valued at $349,000 after buying an additional 51 shares in the last quarter. Blue Barn Wealth LLC raised its stake in GE Aerospace by 3.8% in the fourth quarter. Blue Barn Wealth LLC now owns 1,466 shares of the company’s stock valued at $245,000 after buying an additional 54 shares during the last quarter. Finally, Game Plan Financial Advisors LLC boosted its holdings in GE Aerospace by 10.5% in the fourth quarter. Game Plan Financial Advisors LLC now owns 578 shares of the company’s stock worth $96,000 after acquiring an additional 55 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 transaction, the senior vice president now owns 8,805 shares of the company’s stock, valued at $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction dated Thursday, April 24th. The shares were 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 now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GE. Northcoast Research upgraded shares of GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 price objective on the stock in a report on Wednesday, April 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $220.00 price objective on shares of GE Aerospace in a research note on Wednesday, April 23rd. Wells Fargo & Company upped their target price on GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. boosted their price target on GE Aerospace from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Citigroup reduced their price objective on GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $216.92.

GE Aerospace Stock Up 0.2%

GE opened at $214.83 on Monday. The company has a fifty day moving average of $195.24 and a two-hundred day moving average of $187.97. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $221.47. The stock has a market capitalization of $229.09 billion, a price-to-earnings ratio of 35.86, a PEG ratio of 2.59 and a beta of 1.31.

GE Aerospace (NYSE:GE) last released 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 during the quarter, compared to analysts’ expectations of $9.06 billion. On average, research analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, March 10th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.67%. The ex-dividend date was Monday, March 10th. This is a positive change from GE Aerospace’s previous quarterly dividend of $0.28. GE Aerospace’s dividend payout ratio is 22.40%.

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.