Pines Wealth Management LLC Sells 856 Shares of GE Aerospace (NYSE:GE)

Pines Wealth Management LLC cut its stake in shares of GE Aerospace (NYSE:GE) by 40.2% in the first quarter, Holdings Channel reports. The fund owned 1,272 shares of the company’s stock after selling 856 shares during the period. Pines Wealth Management LLC’s holdings in GE Aerospace were worth $255,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GE. Brighton Jones LLC lifted its holdings in shares of GE Aerospace by 25.3% during the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company’s stock valued at $2,003,000 after acquiring an additional 2,421 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of GE Aerospace by 7.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company’s stock valued at $375,000 after buying an additional 150 shares during the last quarter. Robertson Stephens Wealth Management LLC bought a new position in shares of GE Aerospace in the fourth quarter valued at about $707,000. Financial Advocates Investment Management raised its holdings in shares of GE Aerospace by 8.8% in the fourth quarter. Financial Advocates Investment Management now owns 4,049 shares of the company’s stock valued at $675,000 after buying an additional 329 shares during the last quarter. Finally, Leo Wealth LLC raised its holdings in shares of GE Aerospace by 5.9% in the fourth quarter. Leo Wealth LLC now owns 4,621 shares of the company’s stock valued at $771,000 after buying an additional 259 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GE shares. 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. Royal Bank of Canada set a $275.00 price target on GE Aerospace and gave the company an “outperform” rating in a report on Tuesday, June 3rd. UBS Group lifted their price target on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Northcoast Research cut GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Finally, Wells Fargo & Company lifted their price target on 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. According to MarketBeat.com, GE Aerospace has an average rating of “Moderate Buy” and an average target price of $221.15.

Insider Transactions at GE Aerospace

In other news, VP Robert M. Giglietti sold 4,104 shares of the business’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following the completion of the transaction, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the business’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the transaction, the senior vice president now owns 8,805 shares of the company’s stock, valued at $1,766,899.35. The trade was 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 Price Performance

Shares of GE stock opened at $255.71 on Friday. The stock has a 50-day moving average price of $209.94 and a 200 day moving average price of $196.21. 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 has a market cap of $272.69 billion, a price-to-earnings ratio of 42.69, a PEG ratio of 2.59 and a beta of 1.38. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $257.47.

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

GE Aerospace Company 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.