Lazard Asset Management LLC Sells 1,553 Shares of GE Aerospace (NYSE:GE)

Lazard Asset Management LLC reduced its stake in GE Aerospace (NYSE:GE) by 7.0% during the 4th quarter, HoldingsChannel reports. The fund owned 20,548 shares of the company’s stock after selling 1,553 shares during the quarter. Lazard Asset Management LLC’s holdings in GE Aerospace were worth $3,427,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. New Age Alpha Advisors LLC lifted its position in GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock valued at $25,000 after acquiring an additional 84 shares in the last quarter. Hager Investment Management Services LLC bought a new stake in GE Aerospace in the 4th quarter valued at $27,000. Sumitomo Mitsui Financial Group Inc. bought a new stake in GE Aerospace in the 4th quarter valued at $28,000. Sugar Maple Asset Management LLC bought a new stake in GE Aerospace in the 4th quarter valued at $29,000. Finally, CBIZ Investment Advisory Services LLC bought a new stake in GE Aerospace in the 4th quarter valued at $29,000. 74.77% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Mohamed Ali sold 1,602 shares of the company’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the transaction, the senior vice president now owns 8,805 shares in the company, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the company’s 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 transaction, the vice president now owns 11,540 shares in the company, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Redburn Atlantic assumed coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target on the stock. Citigroup cut their price target on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Northcoast Research raised shares of GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 price target on the stock in a research report on Wednesday, April 9th. Wells Fargo & Company boosted their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $220.00 price target on shares of GE Aerospace in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, GE Aerospace currently has an average rating of “Moderate Buy” and a consensus price target of $216.92.

GE Aerospace Stock Up 1.1%

Shares of GE stock opened at $231.86 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The firm’s 50-day moving average is $198.19 and its 200-day moving average is $189.48. The stock has a market cap of $247.25 billion, a price-to-earnings ratio of 38.71, a PEG ratio of 2.59 and a beta of 1.31. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $232.32.

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

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.