Rockland Trust Co. trimmed its position in GE Aerospace (NYSE:GE – Free Report) by 13.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,426 shares of the company’s stock after selling 4,260 shares during the period. Rockland Trust Co.’s holdings in GE Aerospace were worth $10,250,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of GE. Blueline Advisors LLC acquired a new position in GE Aerospace during the 4th quarter worth approximately $25,000. Ankerstar Wealth LLC acquired a new stake in shares of GE Aerospace in the 4th quarter valued at approximately $31,000. Tucker Asset Management LLC acquired a new stake in shares of GE Aerospace in the 4th quarter valued at approximately $32,000. Burkett Financial Services LLC boosted its stake in shares of GE Aerospace by 28.9% in the second quarter. Burkett Financial Services LLC now owns 125 shares of the company’s stock valued at $47,000 after buying an additional 28 shares in the last quarter. Finally, Lifetime Wealth Management P.C. purchased a new stake in shares of GE Aerospace in the fourth quarter valued at approximately $40,000. 74.77% of the stock is owned by institutional investors and hedge funds.
GE Aerospace Stock Performance
GE opened at $370.40 on Friday. GE Aerospace has a 1-year low of $263.80 and a 1-year high of $388.84. The stock has a market cap of $384.31 billion, a P/E ratio of 43.63, a P/E/G ratio of 2.74 and a beta of 1.36. The stock’s 50 day simple moving average is $353.75 and its 200 day simple moving average is $322.74. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.98 and a quick ratio of 0.67.
GE Aerospace Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, July 27th. Stockholders of record on Monday, July 6th were given a $0.47 dividend. The ex-dividend date was Monday, July 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is currently 22.14%.
Analysts Set New Price Targets
Several research firms have issued reports on GE. The Goldman Sachs Group reiterated a “buy” rating and issued a $410.00 price objective on shares of GE Aerospace in a research report on Monday, July 20th. Royal Bank Of Canada restated an “outperform” rating and set a $400.00 target price (up from $355.00) on shares of GE Aerospace in a research report on Wednesday, July 15th. Citigroup reaffirmed a “buy” rating and set a $431.00 price target (up from $353.00) on shares of GE Aerospace in a research note on Wednesday, July 1st. Wells Fargo & Company reiterated an “overweight” rating and issued a $390.00 price target on shares of GE Aerospace in a report on Monday, July 20th. Finally, Wall Street Zen cut shares of GE Aerospace from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. Sixteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, GE Aerospace currently has an average rating of “Moderate Buy” and an average target price of $390.59.
Insider Activity
In other news, SVP Mohamed Ali sold 8,096 shares of GE Aerospace stock in a transaction on Friday, July 24th. The stock was sold at an average price of $353.71, for a total transaction of $2,863,636.16. Following the completion of the transaction, the senior vice president owned 20,666 shares of the company’s stock, valued at $7,309,770.86. The trade was a 28.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.19% of the stock is owned by company insiders.
GE Aerospace Company Profile
GE Aerospace (NYSE: GE) is the aerospace business of General Electric, focused on the design, manufacture and support of aircraft engines, integrated propulsion systems and related aftermarket services. The company serves commercial airlines, airframers, business and general aviation operators, and defense customers, providing propulsion solutions for a broad range of aircraft types from single‑aisle airliners to widebody and military platforms.
Its product portfolio includes a family of commercial and military jet engines as well as spare parts, components and systems engineering.
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