Central Pacific Bank Trust Division Acquires 5,674 Shares of GE Aerospace (NYSE:GE)

Central Pacific Bank Trust Division raised its holdings in GE Aerospace (NYSE:GE) by 54.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,074 shares of the company’s stock after purchasing an additional 5,674 shares during the period. Central Pacific Bank Trust Division’s holdings in GE Aerospace were worth $3,217,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GE. Vanguard Group Inc. boosted its stake in shares of 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 buying an additional 410,172 shares during the period. FMR LLC lifted its position in shares of 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 acquiring an additional 965,012 shares during the period. Geode Capital Management LLC grew its holdings in shares of GE Aerospace by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company’s stock worth $3,846,587,000 after purchasing an additional 529,457 shares in the last quarter. Norges Bank acquired a new stake in shares of GE Aerospace during the 4th quarter worth $2,375,439,000. Finally, Northern Trust Corp increased its position in shares of GE Aerospace by 5.8% in the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company’s stock worth $1,675,717,000 after purchasing an additional 553,104 shares during the period. Institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on GE shares. Citigroup decreased their target price on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Northcoast Research lowered shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Redburn Atlantic initiated coverage on shares of GE Aerospace in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and set a $220.00 target price on shares of GE Aerospace in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company raised their target price on GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, GE Aerospace has a consensus rating of “Moderate Buy” and a consensus target price of $216.92.

Insider Transactions at GE Aerospace

In related news, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace 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 sale, the vice president now directly owns 11,540 shares in the company, valued at $2,270,264.20. This trade represents a 26.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the sale, the senior vice president now directly owns 8,805 shares in the company, valued at $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. Company insiders own 0.21% of the company’s stock.

GE Aerospace Stock Performance

NYSE GE opened at $244.14 on Friday. The firm’s fifty day moving average price is $204.52 and its two-hundred day moving average price is $193.17. The stock has a market cap of $260.34 billion, a PE ratio of 40.76, a PEG ratio of 2.59 and a beta of 1.31. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $246.00. 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 released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.20. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. On average, equities analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

About GE Aerospace

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.