Onyx Bridge Wealth Group LLC Trims Stake in GE Aerospace (NYSE:GE)

by · The Markets Daily

Onyx Bridge Wealth Group LLC reduced its holdings in GE Aerospace (NYSE:GE – Free Report) by 3.3% during the first quarter, Holdings Channel.com reports. The fund owned 2,891 shares of the company’s stock after selling 98 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in GE Aerospace were worth $579,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in GE Aerospace by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company’s stock valued at $14,980,297,000 after acquiring an additional 410,172 shares during the last quarter. FMR LLC lifted its stake in GE Aerospace by 1.5% during the fourth quarter. FMR LLC now owns 66,823,968 shares of the company’s stock worth $11,145,570,000 after purchasing an additional 965,012 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of GE Aerospace by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company’s stock worth $3,846,587,000 after purchasing an additional 529,457 shares in the last quarter. Norges Bank bought a new position in shares of GE Aerospace during the 4th quarter valued at about $2,375,439,000. Finally, Northern Trust Corp increased its position in shares of GE Aerospace by 5.8% during the 4th quarter. Northern Trust Corp now owns 10,046,867 shares of the company’s stock valued at $1,675,717,000 after purchasing an additional 553,104 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling

In related news, VP Robert M. Giglietti sold 4,104 shares of the firm’s stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the sale, the vice president owned 11,540 shares of the company’s stock, valued at $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Mohamed Ali sold 1,602 shares of the business’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the transaction, the senior vice president directly owned 8,805 shares in the company, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

GE Aerospace Stock Up 0.8%

Shares of GE Aerospace stock opened at $246.78 on Friday. The stock has a market capitalization of $263.16 billion, a price-to-earnings ratio of 38.38, a P/E/G ratio of 2.95 and a beta of 1.37. 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 company’s 50 day moving average price is $233.42 and its 200-day moving average price is $205.06. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $260.55.

GE Aerospace (NYSE:GE – Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.20. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.06 billion. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. Equities research analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.58%. GE Aerospace’s payout ratio is 22.40%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GE shares. Wells Fargo & Company boosted their target price on GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Northcoast Research downgraded shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. UBS Group boosted their price objective 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. Citigroup cut their price objective 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. Finally, Royal Bank Of Canada set a $275.00 target price on shares of GE Aerospace and gave the stock an “outperform” rating in a research report on Tuesday, June 3rd. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $223.75.

Get Our Latest Report on GE

GE Aerospace Company 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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