Transform Wealth LLC Buys 619 Shares of GE Aerospace (NYSE:GE)

Transform Wealth LLC boosted its stake in GE Aerospace (NYSE:GE) by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,620 shares of the company’s stock after acquiring an additional 619 shares during the period. Transform Wealth LLC’s holdings in GE Aerospace were worth $10,350,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. New Age Alpha Advisors LLC boosted its holdings 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. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of GE Aerospace during the 4th quarter worth approximately $28,000. Putney Financial Group LLC bought a new position in shares of GE Aerospace during the 4th quarter worth approximately $28,000. CBIZ Investment Advisory Services LLC bought a new position in shares of GE Aerospace during the 4th quarter worth approximately $29,000. Finally, Picton Mahoney Asset Management boosted its holdings in shares of GE Aerospace by 62.4% during the 4th quarter. Picton Mahoney Asset Management now owns 177 shares of the company’s stock worth $30,000 after buying an additional 68 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Insider Activity at GE Aerospace

In other news, SVP Mohamed Ali sold 1,602 shares of the firm’s stock in a transaction 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 directly owns 8,805 shares of the company’s stock, valued at $1,766,899.35. This trade represents a 15.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the firm’s stock in a transaction 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 of the company’s stock, 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. 0.21% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GE. UBS Group increased their price target on GE Aerospace from $207.00 to $216.00 and gave the stock 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. Wells Fargo & Company increased their price target on GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Royal Bank of Canada set a $275.00 target price on GE Aerospace and gave the stock an “outperform” rating in a research report on Tuesday, June 3rd. Finally, Citigroup lowered their target price on GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $221.15.

GE Aerospace Trading Down 3.8%

NYSE GE opened at $241.80 on Wednesday. The firm has a market capitalization of $257.85 billion, a P/E ratio of 40.37, a PEG ratio of 2.59 and a beta of 1.38. The business has a fifty day simple moving average of $212.06 and a 200 day simple moving average of $197.14. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $257.47. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE) last released 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. The business 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%. On average, analysts predict that GE Aerospace will post 5.4 EPS 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.