The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. GE Aerospace shares valued at $7,377,211 were sold by Stokes Russell on May 23 ’24. At $162.82 per share, Stokes Russell sold 45,309 shares. The insider’s holdings dropped to 112,958 shares worth approximately $18.64 million following the completion of this transaction.
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Also, Giglietti Robert M. sold 5,127 shares, netting a total of over 821,294 in proceeds. Following the sale of shares at $160.19 each, the insider now holds 6,448 shares.
Before that, Procacci Riccardo had sold 5,464 shares from its account. In a trade valued at $873,694, the Senior Vice President traded GE Aerospace shares for $159.90 each. Upon closing the transaction, the insider’s holdings decreased to 5,464 shares, worth approximately $2.33 million.
As published in a research note from TD Cowen on April 09, 2024, GE Aerospace [GE] has been rated up from a Hold to a Buy and the price target has been revised to $180 from $175. As of April 04, 2024, Vertical Research has initiated its “Buy” rating for GE. Earlier on March 27, 2024, Wells Fargo resumed its rating. Their recommendation was “an Overweight” for GE stock.
Analyzing GE Stock Performance
During the last five days, there has been a surge of approximately 2.45%. Over the course of the year, GE Aerospace shares have jumped approximately 62.10%. Shares of the company reached a 52-week high of $170.80 on 05/07/24 and a 52-week low of $98.92 on 01/03/24. A 50-day SMA is recorded $161.14, while a 200-day SMA reached $119.36. Nevertheless, trading volume fell to 4.96 million shares from 5.11 million shares the previous day.
Support And Resistance Levels for GE Aerospace (GE)
According to the 24-hour chart, there is a support level at 163.27, which, if violated, would cause prices to drop to 161.53. In the upper region, resistance lies at 166.52. The next price resistance is at 168.03. RSI (Relative Strength Index) is 56.35 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.82, which suggests the price will increase in the coming days. Percent R is at 17.50%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
