Bridge Creek Capital Management LLC Sells 456 Shares of GE Aerospace (NYSE:GE)

Bridge Creek Capital Management LLC trimmed its position in GE Aerospace (NYSE:GE) by 1.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 27,085 shares of the company’s stock after selling 456 shares during the period. GE Aerospace comprises 1.7% of Bridge Creek Capital Management LLC’s investment portfolio, making the stock its 17th biggest position. Bridge Creek Capital Management LLC’s holdings in GE Aerospace were worth $5,421,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. New Age Alpha Advisors LLC boosted its stake in GE Aerospace by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock valued at $25,000 after acquiring an additional 84 shares during the last quarter. Hager Investment Management Services LLC purchased a new position in GE Aerospace in the fourth quarter valued at about $27,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in GE Aerospace in the fourth quarter valued at about $28,000. Putney Financial Group LLC purchased a new position in GE Aerospace in the fourth quarter valued at about $28,000. Finally, CBIZ Investment Advisory Services LLC purchased a new position in GE Aerospace in the fourth quarter valued at about $29,000. 74.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Redburn Atlantic assumed coverage on shares of GE Aerospace in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price on the stock. Northcoast Research cut shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Wells Fargo & Company boosted their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Royal Bank of Canada restated an “outperform” rating and set a $220.00 price target on shares of GE Aerospace in a research note on Wednesday, April 23rd. Finally, Citigroup dropped their price target on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, GE Aerospace presently has a consensus rating of “Moderate Buy” and an average price target of $216.92.

Insiders Place Their Bets

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 11,540 shares in the company, valued at $2,270,264.20. This represents a 26.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 8,805 shares in the company, valued at $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. Corporate insiders own 0.21% of the company’s stock.

GE Aerospace Stock Performance

NYSE GE opened at $247.32 on Tuesday. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $248.10. 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 stock has a market capitalization of $263.74 billion, a PE ratio of 41.29, a P/E/G ratio of 2.59 and a beta of 1.31. The company’s 50 day simple moving average is $206.00 and its two-hundred day simple moving average is $194.27.

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. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The business had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.06 billion. Analysts predict that GE Aerospace will post 5.4 earnings per share 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.