Worldquant Millennium Advisors LLC Sells 636,103 Shares of GE Aerospace (NYSE:GE)

Worldquant Millennium Advisors LLC cut its holdings in GE Aerospace (NYSE:GE) by 65.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 338,816 shares of the company’s stock after selling 636,103 shares during the period. Worldquant Millennium Advisors LLC’s holdings in GE Aerospace were worth $56,511,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GE. Norges Bank bought a new position in GE Aerospace during the 4th quarter valued at about $2,375,439,000. Janus Henderson Group PLC grew its holdings in GE Aerospace by 87.7% during 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 during the last quarter. Invesco Ltd. grew its holdings in GE Aerospace by 14.4% during 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 during the last quarter. Raymond James Financial Inc. bought a new position in GE Aerospace during the 4th quarter valued at about $194,208,000. Finally, FMR LLC grew its holdings in GE Aerospace by 1.5% during 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 during the last quarter. 74.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Redburn Atlantic assumed coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $220.00 price objective on shares of GE Aerospace in a research report on Wednesday, April 23rd. Wells Fargo & Company boosted their price objective on shares of 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 objective on shares of GE Aerospace from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Bank of America boosted their price objective on shares of GE Aerospace from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, GE Aerospace currently has an average rating of “Moderate Buy” and an average price target of $216.92.

Insider Transactions at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the sale, the senior vice president now directly owns 8,805 shares in the company, valued at $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the firm’s stock in a transaction that occurred 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 completion of 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 disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

GE Aerospace Price Performance

Shares of GE opened at $235.01 on Tuesday. The company has a 50 day moving average price of $198.98 and a 200-day moving average price of $190.15. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $235.87. The stock has a market capitalization of $250.61 billion, a PE ratio of 39.23, a PEG ratio of 2.59 and a beta of 1.31. 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 (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.20. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The firm had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.06 billion. Equities analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal 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.