GE Aerospace (NYSE:GE) Shares Purchased by Global Financial Private Client LLC

Global Financial Private Client LLC raised its position in GE Aerospace (NYSE:GE) by 9.2% during the 1st quarter, Holdings Channel reports. The firm owned 2,286 shares of the company’s stock after acquiring an additional 192 shares during the quarter. Global Financial Private Client LLC’s holdings in GE Aerospace were worth $458,000 at the end of the most recent reporting period.

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

Insider Activity at GE Aerospace

In other news, VP Robert M. Giglietti sold 4,104 shares of the business’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the transaction, the vice president now directly owns 11,540 shares of the company’s stock, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the company’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the transaction, the senior vice president now owns 8,805 shares of the company’s stock, valued at $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

GE Aerospace Stock Performance

NYSE GE opened at $244.14 on Friday. The firm has a market capitalization of $260.34 billion, a P/E ratio of 40.76, a P/E/G ratio of 2.59 and a beta of 1.31. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $246.00. 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’s 50-day simple moving average is $204.52 and its 200-day simple moving average is $193.17.

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

Analyst Ratings Changes

A number of research firms have issued reports on GE. Royal Bank of Canada restated an “outperform” rating and issued a $220.00 target price on shares of GE Aerospace in a report on Wednesday, April 23rd. Wells Fargo & Company boosted 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. Redburn Atlantic started coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price on the stock. UBS Group lifted their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Finally, Citigroup cut their price target on GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.