Skye Global Management LP Lowers Stock Holdings in GE Aerospace (NYSE:GE)

Skye Global Management LP lowered its stake in shares of GE Aerospace (NYSE:GE) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,438,000 shares of the company’s stock after selling 70,000 shares during the period. GE Aerospace accounts for approximately 5.0% of Skye Global Management LP’s portfolio, making the stock its 3rd largest holding. Skye Global Management LP owned 0.13% of GE Aerospace worth $239,844,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Signal Advisors Wealth LLC lifted its position in GE Aerospace by 13.9% during the fourth quarter. Signal Advisors Wealth LLC now owns 1,432 shares of the company’s stock valued at $239,000 after purchasing an additional 175 shares during the last quarter. Pines Wealth Management LLC purchased a new position in shares of GE Aerospace in the fourth quarter worth about $365,000. Kathmere Capital Management LLC boosted its stake in shares of GE Aerospace by 11.8% during the fourth quarter. Kathmere Capital Management LLC now owns 4,331 shares of the company’s stock valued at $722,000 after purchasing an additional 456 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its position in GE Aerospace by 44.2% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,658 shares of the company’s stock valued at $443,000 after buying an additional 815 shares during the period. Finally, ARS Wealth Advisors Group LLC boosted its holdings in shares of GE Aerospace by 13.2% during the fourth quarter. ARS Wealth Advisors Group LLC now owns 2,291 shares of the company’s stock worth $382,000 after purchasing an additional 268 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Redburn Atlantic initiated coverage on GE Aerospace in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target on the stock. UBS Group raised their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Northcoast Research upgraded GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 price target for the company in a research note on Wednesday, April 9th. Finally, Bank of America increased their price objective on shares of GE Aerospace from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, GE Aerospace has an average rating of “Moderate Buy” and a consensus price target of $216.92.

Insider Buying and Selling at GE Aerospace

In other news, VP Robert M. Giglietti sold 4,104 shares of the company’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the sale, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the sale, the senior vice president now directly owns 8,805 shares of the company’s stock, valued at $1,766,899.35. The trade was 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.

GE Aerospace Trading Up 2.6%

Shares of NYSE:GE opened at $229.05 on Friday. The stock has a 50 day moving average of $197.39 and a 200 day moving average of $189.08. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The company has a market cap of $244.26 billion, a PE ratio of 38.24, a price-to-earnings-growth ratio of 2.59 and a beta of 1.31. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $230.97.

GE Aerospace (NYSE:GE) last released its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.20. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. The firm had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.06 billion. As a group, equities research analysts expect that GE Aerospace will post 5.4 EPS for the current year.

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.