GE Aerospace (NYSE:GE) Position Reduced by Stonehearth Capital Management LLC

Stonehearth Capital Management LLC cut its position in shares of GE Aerospace (NYSE:GE) by 22.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 4,947 shares of the company’s stock after selling 1,457 shares during the period. Stonehearth Capital Management LLC’s holdings in GE Aerospace were worth $990,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

GE has been the topic of several recent research reports. Redburn Atlantic initiated coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $220.00 price objective on shares of GE Aerospace in a research report on Wednesday, April 23rd. Citigroup cut their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Northcoast Research lowered shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Finally, Wells Fargo & Company raised their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $216.92.

Insider Transactions at GE Aerospace

In other news, VP Robert M. Giglietti sold 4,104 shares of the business’s stock in a transaction dated Thursday, April 24th. The stock was 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 directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the business’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the transaction, the senior vice president now 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. Corporate insiders own 0.21% of the company’s stock.

GE Aerospace Price Performance

Shares of GE stock opened at $243.64 on Thursday. The stock has a 50-day moving average price of $203.85 and a 200 day moving average price of $192.75. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The firm has a market cap of $259.81 billion, a price-to-earnings ratio of 40.67, a PEG 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 $247.99.

GE Aerospace (NYSE:GE) last posted 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. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. Research analysts expect that GE Aerospace will post 5.4 EPS for the current year.

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.