City State Bank Sells 75 Shares of GE Aerospace (NYSE:GE)

City State Bank decreased its stake in shares of GE Aerospace (NYSE:GE) by 3.5% during the first quarter, Holdings Channel reports. The firm owned 2,090 shares of the company’s stock after selling 75 shares during the quarter. City State Bank’s holdings in GE Aerospace were worth $418,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Norges Bank bought a new position in GE Aerospace during the fourth quarter valued at approximately $2,375,439,000. GAMMA Investing LLC lifted its position in GE Aerospace by 23,611.7% during the first quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company’s stock valued at $1,013,959,000 after purchasing an additional 5,044,632 shares during the period. Janus Henderson Group PLC lifted its position in GE Aerospace by 87.7% during the fourth 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 period. Invesco Ltd. lifted its position in GE Aerospace by 14.4% during the fourth 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 period. Finally, Raymond James Financial Inc. bought a new position in GE Aerospace during the fourth quarter valued at approximately $194,208,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the topic of several recent research reports. Wells Fargo & Company increased 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. Royal Bank of Canada set a $275.00 price target on shares of GE Aerospace and gave the stock an “outperform” rating in a research report on Tuesday. UBS Group increased their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Northcoast Research downgraded shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Finally, Redburn Atlantic initiated coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.15.

Insider Transactions at GE Aerospace

In related news, SVP Mohamed Ali sold 1,602 shares of the firm’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the transaction, the senior vice president now directly owns 8,805 shares of the company’s stock, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 11,540 shares of the company’s stock, valued at $2,270,264.20. The trade was 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 Stock Performance

Shares of NYSE GE opened at $255.71 on Friday. The firm has a fifty day moving average price of $209.94 and a 200-day moving average price of $196.09. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The stock has a market cap of $272.69 billion, a PE ratio of 42.69, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $257.47.

GE Aerospace (NYSE:GE) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.20. The firm had revenue of $9.94 billion during 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%. Equities analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace 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.