Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. GE Aerospace shares valued at $70,919,750 were purchased by General Electric Pension Trust on Aug 14 ’24. At $166.87 per share, General Electric Pension Trust acquired 425,000 shares.
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Also, Stokes Russell sold 45,309 shares, netting a total of over 7,377,211 in proceeds. Following the sale of shares at $162.82 each, the insider now holds 112,958 shares.
Before that, Giglietti Robert M. had sold 5,127 shares from its account. In a trade valued at $821,294, the Vice President traded GE Aerospace shares for $160.19 each. Upon closing the transaction, the insider’s holdings decreased to 5,127 shares, worth approximately $1.08 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 3.59%. Over the course of the year, GE Aerospace shares have jumped approximately 65.00%. Shares of the company reached a 52-week high of $177.20 on 07/23/24 and a 52-week low of $98.92 on 01/03/24. A 50-day SMA is recorded $162.83, while a 200-day SMA reached $133.46. Nevertheless, trading volume fell to 4.44 million shares from 2.94 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 165.99, which, if violated, would cause prices to drop to 164.02. In the upper region, resistance lies at 169.55. The next price resistance is at 171.14. RSI (Relative Strength Index) is 55.24 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.47, which suggests the price will increase in the coming days. Percent R is at 27.64%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
