EP Wealth Advisors LLC Sells 4,629 Shares of GE Aerospace (NYSE:GE)

EP Wealth Advisors LLC lowered its position in shares of GE Aerospace (NYSE:GE) by 16.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 24,262 shares of the company’s stock after selling 4,629 shares during the quarter. EP Wealth Advisors LLC’s holdings in GE Aerospace were worth $4,047,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC raised its holdings in shares of GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock valued at $25,000 after purchasing an additional 84 shares during the last quarter. Hager Investment Management Services LLC bought a new stake in GE Aerospace in the 4th quarter worth approximately $27,000. Sumitomo Mitsui Financial Group Inc. purchased a new stake in GE Aerospace during the 4th quarter valued at $28,000. Sugar Maple Asset Management LLC bought a new position in shares of GE Aerospace during the 4th quarter valued at $29,000. Finally, CBIZ Investment Advisory Services LLC purchased a new position in shares of GE Aerospace in the 4th quarter worth $29,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on GE shares. JPMorgan Chase & Co. upped their price objective on GE Aerospace from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Bank of America increased their price objective on shares of GE Aerospace from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Royal Bank of Canada restated an “outperform” rating and set a $220.00 target price on shares of GE Aerospace in a research report on Wednesday, April 23rd. Redburn Atlantic began coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target on the stock. Finally, Northcoast Research upgraded shares of GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 price target on the stock in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, GE Aerospace presently has a consensus rating of “Moderate Buy” and an average price target of $216.92.

GE Aerospace Stock Performance

NYSE:GE opened at $214.64 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The stock’s fifty day moving average is $194.92 and its 200 day moving average is $187.61. The firm has a market capitalization of $228.89 billion, a PE ratio of 35.83, a PEG 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 $216.80.

GE Aerospace (NYSE:GE) last announced its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.20. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. On average, sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, March 10th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Monday, March 10th. This is a positive change from GE Aerospace’s previous quarterly dividend of $0.28. GE Aerospace’s payout ratio is 22.40%.

Insider Activity

In other news, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction 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 sale, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. This trade represents a 26.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 sale, the senior vice president now directly owns 8,805 shares of the company’s stock, valued at $1,766,899.35. This represents a 15.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

About GE Aerospace

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.