Worldquant Millennium Advisors LLC Decreases Stake in GE Aerospace (NYSE:GE)

Worldquant Millennium Advisors LLC lowered its stake in GE Aerospace (NYSE:GE) by 65.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 338,816 shares of the company’s stock after selling 636,103 shares during the period. Worldquant Millennium Advisors LLC’s holdings in GE Aerospace were worth $56,511,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New Age Alpha Advisors LLC raised its holdings in shares of GE Aerospace by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock worth $25,000 after buying an additional 84 shares during the last quarter. Hager Investment Management Services LLC purchased a new position in shares of GE Aerospace in the fourth quarter worth $27,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of GE Aerospace in the fourth quarter worth $28,000. Sugar Maple Asset Management LLC purchased a new position in shares of GE Aerospace in the fourth quarter worth $29,000. Finally, CBIZ Investment Advisory Services LLC purchased a new position in shares of GE Aerospace in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insiders Place Their Bets

In other GE Aerospace 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 value of $807,379.92. Following the completion of the transaction, the vice president now owns 11,540 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Also, SVP Mohamed Ali sold 1,602 shares of the company’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the transaction, the senior vice president now 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 position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

GE Aerospace Trading Up 1.4%

Shares of GE Aerospace stock opened at $235.01 on Tuesday. The firm has a 50-day simple moving average of $198.98 and a two-hundred day simple moving average of $190.15. The company has a market cap of $250.61 billion, a P/E ratio of 39.23, a price-to-earnings-growth 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 $235.87. 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 issued its quarterly earnings data 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. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. As a group, equities analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Northcoast Research cut shares of GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday. Redburn Atlantic assumed coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price for the company. Citigroup reduced their target price on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Bank of America raised their target price on shares of GE Aerospace from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, UBS Group raised their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Two 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $216.92.

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.