GE Aerospace (NYSE:GE) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its stake in GE Aerospace (NYSE:GE) by 5.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,795 shares of the company’s stock after selling 1,550 shares during the period. Assenagon Asset Management S.A.’s holdings in GE Aerospace were worth $5,763,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in GE. Norges Bank acquired a new position in GE Aerospace in the 4th quarter valued at about $2,375,439,000. GAMMA Investing LLC increased its position in GE Aerospace by 23,611.7% in the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company’s stock valued at $1,013,959,000 after acquiring an additional 5,044,632 shares during the period. Janus Henderson Group PLC increased its position in GE Aerospace by 87.7% in the 4th quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company’s stock valued at $597,412,000 after acquiring an additional 1,673,365 shares during the period. Invesco Ltd. boosted its holdings in GE Aerospace by 14.4% in the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company’s stock valued at $1,591,970,000 after purchasing an additional 1,204,910 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in GE Aerospace in the 4th quarter valued at approximately $194,208,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

GE Aerospace Price Performance

Shares of NYSE:GE opened at $236.07 on Friday. The business’s 50 day simple moving average is $216.42 and its 200-day simple moving average is $198.36. The firm has a market capitalization of $251.74 billion, a price-to-earnings ratio of 39.41, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $257.47.

GE Aerospace (NYSE:GE) last posted its earnings results 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. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. As a group, equities analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on GE. Royal Bank of Canada set a $275.00 price objective on GE Aerospace and gave the company an “outperform” rating in a report on Tuesday, June 3rd. UBS Group lifted their price objective on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Northcoast Research lowered GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Redburn Atlantic began coverage on GE Aerospace in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective on the stock. Finally, Wells Fargo & Company lifted their price objective on GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $221.15.

Insider Activity at GE Aerospace

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the business’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 transaction, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their position. 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 business’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the transaction, the senior vice president now owns 8,805 shares of the company’s stock, valued at $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

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.