McIlrath & Eck LLC Cuts Position in GE Aerospace (NYSE:GE)

McIlrath & Eck LLC reduced its position in shares of GE Aerospace (NYSE:GE) by 16.2% in the fourth quarter, Holdings Channel reports. The fund owned 932 shares of the company’s stock after selling 180 shares during the quarter. McIlrath & Eck LLC’s holdings in GE Aerospace were worth $155,000 at the end of the most recent reporting period.

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

GE Aerospace Stock Down 0.2%

GE stock opened at $234.93 on Wednesday. The firm has a 50 day moving average of $199.84 and a 200 day moving average of $190.46. The stock has a market capitalization of $250.53 billion, a PE ratio of 39.22, a price-to-earnings-growth ratio of 2.59 and a beta of 1.31. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $236.08. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE) last posted 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. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. Sell-side analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on GE shares. Citigroup dropped their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. UBS Group raised their price target on GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Bank of America lifted their target price on GE Aerospace from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Royal Bank of Canada restated an “outperform” rating and issued a $220.00 price target on shares of GE Aerospace in a report on Wednesday, April 23rd. Finally, Northcoast Research cut shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $216.92.

Insider Activity at GE Aerospace

In related news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the transaction, the senior vice president now directly owns 8,805 shares in the company, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the sale, the vice president now owns 11,540 shares in the company, valued at $2,270,264.20. This represents a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

GE Aerospace Profile

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.