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 $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 $1.11 million.
As published in a research note from Bernstein on October 14, 2024, GE Aerospace [GE] has been retained to an Outperform and the price target has been revised to $225. Analysts at Bernstein started covering the stock with ‘”an Outperform”‘ outlook in a report released in early September. As of April 09, 2024, TD Cowen has increased its “Hold” rating to a “Buy” for GE.
Analyzing GE Stock Performance
During the last five days, there has been a drop of approximately -4.43%. Over the course of the year, GE Aerospace shares have jumped approximately 68.76%. Shares of the company reached a 52-week high of $194.80 on 10/17/24 and a 52-week low of $98.92 on 01/03/24. A 50-day SMA is recorded $180.08, while a 200-day SMA reached $156.20. Nevertheless, trading volume fell to 5.17 million shares from 3.69 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 170.27, which, if violated, would cause prices to drop to 168.75. In the upper region, resistance lies at 173.46. The next price resistance is at 175.13. RSI (Relative Strength Index) is 35.38 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -9.93, which suggests the price will decrease in the coming days. Percent R is at 94.46%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
