Greenwood Capital Associates LLC Sells 537 Shares of GE Aerospace (NYSE:GE)

Greenwood Capital Associates LLC lowered its holdings in GE Aerospace (NYSE:GE) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,215 shares of the company’s stock after selling 537 shares during the period. Greenwood Capital Associates LLC’s holdings in GE Aerospace were worth $5,447,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of GE. Truvestments Capital LLC lifted its holdings in shares of GE Aerospace by 26.2% in the 4th quarter. Truvestments Capital LLC now owns 236 shares of the company’s stock valued at $39,000 after acquiring an additional 49 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE raised its position in GE Aerospace by 17.6% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company’s stock valued at $56,000 after purchasing an additional 50 shares during the period. Ballast Advisors LLC lifted its stake in shares of GE Aerospace by 2.5% in the 4th quarter. Ballast Advisors LLC now owns 2,093 shares of the company’s stock valued at $349,000 after purchasing an additional 51 shares during the last quarter. Blue Barn Wealth LLC boosted its holdings in shares of GE Aerospace by 3.8% in the 4th quarter. Blue Barn Wealth LLC now owns 1,466 shares of the company’s stock worth $245,000 after purchasing an additional 54 shares during the period. Finally, First Heartland Consultants Inc. boosted its holdings in shares of GE Aerospace by 1.2% in the 4th quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company’s stock worth $789,000 after purchasing an additional 54 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Trading Up 1.4%

Shares of NYSE:GE opened at $245.38 on Thursday. The business’s 50-day moving average is $213.64 and its 200 day moving average is $197.47. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $257.47. The firm has a market capitalization of $261.67 billion, a P/E ratio of 40.97, a P/E/G ratio of 2.59 and a beta of 1.38.

GE Aerospace (NYSE:GE) last posted its quarterly earnings data 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. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. On average, research analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. UBS Group raised their price target on GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Redburn Atlantic began coverage on GE Aerospace in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price for the company. Wells Fargo & Company upped their target price on GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Royal Bank of Canada set a $275.00 price target on GE Aerospace and gave the stock an “outperform” rating in a research note on Tuesday, June 3rd. Finally, Northcoast Research downgraded GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $221.15.

Insider Activity

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the company’s stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the sale, 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 position. The transaction was disclosed in a document filed 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 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 sale, the senior vice president now owns 8,805 shares in the company, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

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.