Octavia Wealth Advisors LLC Trims Stock Position in GE Aerospace (NYSE:GE)

Octavia Wealth Advisors LLC trimmed its position in shares of GE Aerospace (NYSE:GE) by 15.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,755 shares of the company’s stock after selling 321 shares during the period. Octavia Wealth Advisors LLC’s holdings in GE Aerospace were worth $352,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of GE Aerospace by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company’s stock worth $14,980,297,000 after acquiring an additional 410,172 shares in the last quarter. FMR LLC boosted its stake in shares of GE Aerospace by 1.5% during the 4th quarter. FMR LLC now owns 66,823,968 shares of the company’s stock valued at $11,145,570,000 after buying an additional 965,012 shares during the last quarter. Geode Capital Management LLC increased its stake in GE Aerospace by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company’s stock valued at $3,846,587,000 after purchasing an additional 529,457 shares during the last quarter. Norges Bank bought a new stake in GE Aerospace in the fourth quarter valued at $2,375,439,000. Finally, Northern Trust Corp raised its stake in GE Aerospace by 5.8% during the 4th quarter. Northern Trust Corp now owns 10,046,867 shares of the company’s stock valued at $1,675,717,000 after acquiring an additional 553,104 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, 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 completion of 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction, the vice president now owns 11,540 shares in the company, valued at $2,270,264.20. This trade represents a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Northcoast Research cut GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. UBS Group boosted their price target on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Redburn Atlantic assumed coverage on shares of GE Aerospace in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target on the stock. Royal Bank of Canada set a $275.00 price objective on shares of GE Aerospace and gave the company an “outperform” rating in a report on Tuesday, June 3rd. Finally, Wells Fargo & Company boosted their price objective 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 research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $221.15.

GE Aerospace Price Performance

GE opened at $255.71 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The stock’s 50 day moving average price is $209.94 and its 200-day moving average price is $196.34. The stock has a market capitalization of $272.69 billion, a PE ratio of 42.69, a price-to-earnings-growth 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 $257.47.

GE Aerospace (NYSE:GE) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.20. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.06 billion. On average, equities research analysts predict that GE Aerospace will post 5.4 EPS for the current year.

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.