Insight Wealth Strategies LLC Makes New $219,000 Investment in GE Aerospace (NYSE:GE)

Insight Wealth Strategies LLC purchased a new stake in GE Aerospace (NYSE:GE) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,094 shares of the company’s stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of GE Aerospace by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company’s stock worth $14,980,297,000 after acquiring an additional 410,172 shares during the period. FMR LLC increased its position in GE Aerospace by 1.5% during 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 during the last quarter. Geode Capital Management LLC boosted its holdings in GE Aerospace by 2.3% in the 4th 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 acquired a new position in GE Aerospace in the 4th quarter valued at about $2,375,439,000. Finally, Northern Trust Corp grew its stake in shares of GE Aerospace by 5.8% in the 4th quarter. Northern Trust Corp now owns 10,046,867 shares of the company’s stock valued at $1,675,717,000 after buying an additional 553,104 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Activity

In other news, 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 transaction, the vice president now directly owns 11,540 shares of the company’s stock, valued at $2,270,264.20. The trade was a 26.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Mohamed Ali sold 1,602 shares of the company’s stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the transaction, the senior vice president now owns 8,805 shares of the company’s stock, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. UBS Group upped their price objective on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Citigroup reduced their target price on GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company increased their price target on GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Redburn Atlantic initiated coverage on GE Aerospace in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $220.00 target price on shares of GE Aerospace in a research report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $216.92.

GE Aerospace Stock Performance

Shares of GE stock opened at $243.64 on Thursday. The firm has a 50 day moving average of $203.85 and a two-hundred day moving average of $192.75. The stock has a market capitalization of $259.81 billion, a PE ratio of 40.67, a P/E/G ratio of 2.59 and a beta of 1.31. 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 has a 52 week low of $150.20 and a 52 week high of $247.99.

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