Marcum Wealth LLC Purchases 79 Shares of GE Aerospace (NYSE:GE)

Marcum Wealth LLC raised its position in GE Aerospace (NYSE:GE) by 2.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 3,614 shares of the company’s stock after buying an additional 79 shares during the period. Marcum Wealth LLC’s holdings in GE Aerospace were worth $723,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GE. Chung Wu Investment Group LLC bought a new position in shares of GE Aerospace during the fourth quarter worth about $795,000. National Bank of Canada FI raised its holdings in GE Aerospace by 2.9% during the 4th quarter. National Bank of Canada FI now owns 1,064,417 shares of the company’s stock worth $177,535,000 after purchasing an additional 29,844 shares during the last quarter. National Pension Service lifted its position in shares of GE Aerospace by 1.7% in the 4th quarter. National Pension Service now owns 2,254,637 shares of the company’s stock worth $376,051,000 after purchasing an additional 37,884 shares during the period. FourThought Financial Partners LLC bought a new stake in shares of GE Aerospace in the 4th quarter valued at $507,000. Finally, Invesco Ltd. increased its position in shares of GE Aerospace by 14.4% during the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company’s stock worth $1,591,970,000 after buying an additional 1,204,910 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GE has been the topic of several recent analyst reports. UBS Group boosted their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $220.00 price objective on shares of GE Aerospace in a research note on Wednesday, April 23rd. Wells Fargo & Company raised their target price on GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Citigroup dropped their price target on GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, Redburn Atlantic began coverage on GE Aerospace in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target on the stock. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $216.92.

GE Aerospace Stock Performance

NYSE GE opened at $244.14 on Friday. The company has a market cap of $260.34 billion, a P/E ratio of 40.76, a PEG ratio of 2.59 and a beta of 1.31. The company has a fifty day simple moving average of $204.52 and a 200 day simple moving average of $193.17. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $246.00.

GE Aerospace (NYSE:GE) last released its quarterly earnings data 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. The firm had revenue of $9.94 billion for 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 predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Insider Activity at GE Aerospace

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction that occurred 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 owns 11,540 shares of the company’s stock, valued at $2,270,264.20. This trade represents a 26.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The shares were 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 of the company’s stock, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

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.