Fortis Group Advisors LLC Sells 78 Shares of GE Aerospace (NYSE:GE)

by · The Cerbat Gem

Fortis Group Advisors LLC decreased its holdings in shares of GE Aerospace (NYSE:GE – Free Report) by 23.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 253 shares of the company’s stock after selling 78 shares during the quarter. Fortis Group Advisors LLC’s holdings in GE Aerospace were worth $51,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of GE. New Age Alpha Advisors LLC raised its stake in GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock worth $25,000 after acquiring an additional 84 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of GE Aerospace during the 4th quarter valued at approximately $28,000. Putney Financial Group LLC purchased a new stake in GE Aerospace in the fourth quarter valued at approximately $28,000. Copia Wealth Management raised its position in GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company’s stock valued at $29,000 after purchasing an additional 142 shares during the period. Finally, First Pacific Financial grew its stake in shares of GE Aerospace by 46.0% in the first quarter. First Pacific Financial now owns 165 shares of the company’s stock worth $33,000 after acquiring an additional 52 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

GE has been the subject of a number of research reports. Northcoast Research cut shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. UBS Group upped their target price 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. Citigroup reiterated a “buy” rating and issued a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research report on Monday. 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, Wells Fargo & Company raised their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, GE Aerospace currently has a consensus rating of “Moderate Buy” and an average price target of $229.50.

Check Out Our Latest Analysis on GE Aerospace

GE Aerospace Price Performance

Shares of NYSE:GE opened at $260.22 on Friday. The stock has a market cap of $277.50 billion, a PE ratio of 40.47, a price-to-earnings-growth ratio of 3.19 and a beta of 1.37. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $272.80. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90. The stock’s fifty day simple moving average is $243.40 and its two-hundred day simple moving average is $211.08.

GE Aerospace (NYSE:GE – Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. The firm had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the prior year, the company posted $1.20 earnings per share. The company’s quarterly revenue was up 21.2% on a year-over-year basis. As a group, analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.55%. GE Aerospace’s dividend payout ratio is currently 22.40%.

Insider Buying and Selling at GE Aerospace

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following the completion of the transaction, the vice president owned 11,540 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the transaction, the senior vice president owned 8,805 shares in the company, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

GE Aerospace Profile

(Free Report)

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.

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