OVERSEA CHINESE BANKING Corp Ltd Sells 752 Shares of GE Aerospace (NYSE:GE)

OVERSEA CHINESE BANKING Corp Ltd decreased its holdings in GE Aerospace (NYSE:GE) by 1.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,578 shares of the company’s stock after selling 752 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in GE Aerospace were worth $15,131,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. New Age Alpha Advisors LLC lifted its position 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 in the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of GE Aerospace in the fourth quarter worth about $28,000. Putney Financial Group LLC purchased a new stake in shares of GE Aerospace in the fourth quarter worth about $28,000. CBIZ Investment Advisory Services LLC bought a new stake in shares of GE Aerospace in the 4th quarter valued at approximately $29,000. Finally, Copia Wealth Management lifted its stake in shares of GE Aerospace by 14,200.0% in the 1st 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 last quarter. Institutional investors own 74.77% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction 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 directly owned 8,805 shares in the company, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction on 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 owned 11,540 shares in the company, valued at $2,270,264.20. This represents a 26.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on GE shares. Royal Bank Of Canada set a $275.00 price objective on GE Aerospace and gave the company an “outperform” rating in a research note on Tuesday, June 3rd. Northcoast Research lowered GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Citigroup lowered their price objective on GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. UBS Group raised their price objective on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company raised their price objective on GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, GE Aerospace presently has a consensus rating of “Moderate Buy” and an average target price of $223.75.

GE Aerospace Trading Up 1.2%

GE opened at $255.49 on Monday. The stock’s fifty day moving average is $239.17 and its two-hundred day moving average is $209.03. The company has a market capitalization of $272.45 billion, a P/E ratio of 39.73, a PEG ratio of 3.06 and a beta of 1.37. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $260.55. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90.

GE Aerospace (NYSE:GE) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.29 by $0.20. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. Analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.56%. GE Aerospace’s payout ratio is currently 22.40%.

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.