GE Aerospace (NYSE:GE) Stake Raised by Merit Financial Group LLC

Merit Financial Group LLC grew its holdings in shares of GE Aerospace (NYSE:GE) by 49.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,609 shares of the company’s stock after buying an additional 15,182 shares during the period. Merit Financial Group LLC’s holdings in GE Aerospace were worth $9,129,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in GE. New Age Alpha Advisors LLC raised its holdings in shares of GE Aerospace by 133.3% during the fourth 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 bought a new stake in GE Aerospace during the fourth quarter worth approximately $27,000. Sumitomo Mitsui Financial Group Inc. bought a new stake in GE Aerospace during the fourth quarter worth approximately $28,000. Putney Financial Group LLC bought a new stake in GE Aerospace during the fourth quarter worth approximately $28,000. Finally, CBIZ Investment Advisory Services LLC bought a new stake in GE Aerospace during the fourth quarter worth approximately $29,000. Institutional investors own 74.77% of the company’s stock.

GE Aerospace Price Performance

Shares of NYSE:GE opened at $248.89 on Wednesday. The company’s fifty day moving average is $206.85 and its two-hundred day moving average is $194.65. 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 12-month low of $150.20 and a 12-month high of $250.50. The company has a market cap of $265.41 billion, a P/E ratio of 41.55, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38.

GE Aerospace (NYSE:GE) last announced its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating 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 company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. Equities analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Insider Buying and Selling at GE Aerospace

In other news, SVP Mohamed Ali sold 1,602 shares of the business’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 transaction, the senior vice president now directly owns 8,805 shares in the company, valued at $1,766,899.35. The trade was a 15.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 owns 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23% 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.

Wall Street Analysts Forecast Growth

GE has been the topic of several recent analyst reports. Northcoast Research cut GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. UBS Group boosted their target price on GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Redburn Atlantic initiated coverage on GE Aerospace in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price on the stock. Wells Fargo & Company boosted their target price on GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Finally, Citigroup dropped their target price on GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, GE Aerospace currently has an average rating of “Moderate Buy” and an average target price of $221.15.

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.