QRG Capital Management Inc. Sells 7,078 Shares of GE Aerospace (NYSE:GE)

QRG Capital Management Inc. cut its holdings in GE Aerospace (NYSE:GE) by 2.6% during the 1st quarter, Holdings Channel reports. The fund owned 263,416 shares of the company’s stock after selling 7,078 shares during the period. QRG Capital Management Inc.’s holdings in GE Aerospace were worth $52,723,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Sentry LLC raised its position in shares of GE Aerospace by 7.6% during the 1st quarter. Sentry LLC now owns 8,269 shares of the company’s stock valued at $1,655,000 after purchasing an additional 587 shares during the period. Highline Wealth Partners LLC increased its holdings in shares of GE Aerospace by 133.7% in the 1st quarter. Highline Wealth Partners LLC now owns 208 shares of the company’s stock worth $42,000 after buying an additional 119 shares during the last quarter. Precision Wealth Strategies LLC increased its holdings in shares of GE Aerospace by 9.7% in the 1st quarter. Precision Wealth Strategies LLC now owns 19,074 shares of the company’s stock worth $3,818,000 after buying an additional 1,679 shares during the last quarter. Sagespring Wealth Partners LLC increased its holdings in shares of GE Aerospace by 32.7% in the 1st quarter. Sagespring Wealth Partners LLC now owns 12,857 shares of the company’s stock worth $2,573,000 after buying an additional 3,169 shares during the last quarter. Finally, Great Lakes Retirement Inc. increased its holdings in shares of GE Aerospace by 5.3% in the 1st quarter. Great Lakes Retirement Inc. now owns 2,612 shares of the company’s stock worth $523,000 after buying an additional 132 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Trading Down 1.6%

NYSE:GE opened at $236.07 on Monday. GE Aerospace has a one year low of $150.20 and a one year high of $257.47. 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 has a market cap of $251.74 billion, a P/E ratio of 39.41, a P/E/G ratio of 2.59 and a beta of 1.38. The firm has a 50-day simple moving average of $216.42 and a 200-day simple moving average of $198.48.

GE Aerospace (NYSE:GE) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.29 by $0.20. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates 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 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GE. Northcoast Research downgraded shares of GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Wells Fargo & Company lifted their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Citigroup dropped their price target on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. 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 note on Tuesday, June 3rd. Finally, Redburn Atlantic initiated coverage on shares of GE Aerospace in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target for the company. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, GE Aerospace presently has an average rating of “Moderate Buy” and an average price target of $221.15.

Insider Buying and Selling

In related news, VP Robert M. Giglietti sold 4,104 shares of the 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 sale, the vice president now directly owns 11,540 shares of the company’s stock, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction 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. This trade represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

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.