GE Aerospace (NYSE:GE) Shares Sold by Secure Asset Management LLC

Secure Asset Management LLC lessened its holdings in shares of GE Aerospace (NYSE:GE) by 52.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,076 shares of the company’s stock after selling 3,326 shares during the quarter. Secure Asset Management LLC’s holdings in GE Aerospace were worth $616,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. TruWealth Advisors LLC acquired a new stake in GE Aerospace in the first quarter valued at approximately $200,000. Wealth Alliance Advisory Group LLC raised its holdings in GE Aerospace by 19.9% in the first quarter. Wealth Alliance Advisory Group LLC now owns 9,989 shares of the company’s stock valued at $1,999,000 after acquiring an additional 1,657 shares in the last quarter. Nixon Peabody Trust Co. raised its holdings in GE Aerospace by 9.8% in the first quarter. Nixon Peabody Trust Co. now owns 2,827 shares of the company’s stock valued at $566,000 after acquiring an additional 252 shares in the last quarter. Firethorn Wealth Partners LLC acquired a new stake in GE Aerospace in the first quarter valued at approximately $245,000. Finally, Financial Management Professionals Inc. raised its holdings in GE Aerospace by 136.1% in the first quarter. Financial Management Professionals Inc. now owns 791 shares of the company’s stock valued at $158,000 after acquiring an additional 456 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

GE Aerospace Stock Performance

Shares of GE Aerospace stock opened at $250.97 on Thursday. The firm has a market capitalization of $267.63 billion, a P/E ratio of 41.90, a P/E/G ratio of 2.59 and a beta of 1.38. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $253.06. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The firm’s 50 day moving average is $207.88 and its two-hundred day moving average is $195.04.

GE Aerospace (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.29 by $0.20. The company 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%. Research analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

Insider Transactions at GE Aerospace

In other news, VP Robert M. Giglietti sold 4,104 shares of the firm’s 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 directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Mohamed Ali sold 1,602 shares of the firm’s 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 transaction, the senior vice president now owns 8,805 shares in the company, valued at approximately $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. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. UBS Group raised 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. Redburn Atlantic assumed coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price on the stock. Royal Bank of Canada raised their target price on shares of GE Aerospace from $220.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday. Northcoast Research cut shares of GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Finally, Wells Fargo & Company raised their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $221.15.

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.