Sunbeam Capital Management LLC Buys New Stake in GE Aerospace (NYSE:GE)

Sunbeam Capital Management LLC purchased a new position in shares of GE Aerospace (NYSE:GE) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,428 shares of the company’s stock, valued at approximately $405,000.

A number of other institutional investors also recently bought and sold shares of GE. Vanguard Group Inc. increased its holdings in shares of GE Aerospace by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company’s stock valued at $14,980,297,000 after acquiring an additional 410,172 shares during the last quarter. FMR LLC increased its stake in GE Aerospace by 1.5% in the fourth quarter. FMR LLC now owns 66,823,968 shares of the company’s stock valued at $11,145,570,000 after purchasing an additional 965,012 shares during the last quarter. Geode Capital Management LLC increased its stake in GE Aerospace by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company’s stock valued at $3,846,587,000 after purchasing an additional 529,457 shares during the last quarter. Norges Bank purchased a new stake in shares of GE Aerospace during the 4th quarter worth approximately $2,375,439,000. Finally, Northern Trust Corp lifted its position in shares of GE Aerospace by 5.8% during the 4th quarter. Northern Trust Corp now owns 10,046,867 shares of the company’s stock worth $1,675,717,000 after buying an additional 553,104 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace 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 sale, the senior vice president now directly owns 8,805 shares in the company, valued at $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the 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 completion of the transaction, the vice president now owns 11,540 shares of the company’s stock, 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 currently owned by corporate insiders.

GE Aerospace Price Performance

GE Aerospace stock opened at $232.86 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The business has a 50 day simple moving average of $201.76 and a 200-day simple moving average of $191.63. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $237.30. The stock has a market capitalization of $248.32 billion, a PE ratio of 38.87, a price-to-earnings-growth ratio of 2.59 and a beta of 1.31.

GE Aerospace (NYSE:GE) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.20. The company had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. Equities analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GE shares. UBS Group increased their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Bank of America boosted their price target 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $220.00 price objective on shares of GE Aerospace in a report on Wednesday, April 23rd. Wells Fargo & Company boosted their target price on GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Finally, Northcoast Research downgraded GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, GE Aerospace presently has an average rating of “Moderate Buy” and an average target price of $216.92.

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.