Chevy Chase Trust Holdings LLC Decreases Holdings in GE Aerospace (NYSE:GE)

Chevy Chase Trust Holdings LLC cut its holdings in shares of GE Aerospace (NYSE:GE) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 570,764 shares of the company’s stock after selling 4,815 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in GE Aerospace were worth $114,238,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GE. Norges Bank purchased a new position in shares of GE Aerospace during the fourth quarter worth approximately $2,375,439,000. GAMMA Investing LLC increased its stake in shares of GE Aerospace by 23,611.7% in the first quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company’s stock worth $1,013,959,000 after buying an additional 5,044,632 shares during the period. Janus Henderson Group PLC increased its stake in shares of GE Aerospace by 87.7% in the fourth quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company’s stock worth $597,412,000 after buying an additional 1,673,365 shares during the period. Invesco Ltd. increased its stake in shares of GE Aerospace by 14.4% in the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company’s stock worth $1,591,970,000 after buying an additional 1,204,910 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of GE Aerospace in the fourth quarter worth $194,208,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. 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 report on Thursday, April 10th. UBS Group lifted their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Northcoast Research cut shares of GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Finally, Royal Bank Of Canada set a $275.00 target price on shares of GE Aerospace and gave the company an “outperform” rating in a report on Tuesday, June 3rd. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, GE Aerospace currently has an average rating of “Moderate Buy” and an average target price of $221.15.

GE Aerospace Price Performance

Shares of NYSE:GE opened at $248.18 on Tuesday. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $257.47. The business has a 50-day simple moving average of $223.18 and a two-hundred day simple moving average of $200.97. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. The firm has a market cap of $264.66 billion, a price-to-earnings ratio of 38.60, a price-to-earnings-growth ratio of 2.89 and a beta of 1.38.

GE Aerospace (NYSE:GE) last issued its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.20. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. The business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. On average, analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

Insider Activity

In other news, 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 sale, the vice president now owns 11,540 shares of the company’s stock, valued at $2,270,264.20. This represents a 26.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $321,473.34. Following the sale, the senior vice president now directly owns 8,805 shares of the company’s stock, valued at $1,766,899.35. The trade was a 15.39% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

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.