Folger Nolan Fleming Douglas Capital Management Inc. Sells 88 Shares of GE Aerospace (NYSE:GE)

Folger Nolan Fleming Douglas Capital Management Inc. decreased its holdings in GE Aerospace (NYSE:GE) by 0.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,270 shares of the company’s stock after selling 88 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in GE Aerospace were worth $2,056,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. New Age Alpha Advisors LLC grew its stake in GE Aerospace by 133.3% during 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 in the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of GE Aerospace during the 4th quarter valued at about $28,000. Putney Financial Group LLC purchased a new position in shares of GE Aerospace during the fourth quarter valued at about $28,000. CBIZ Investment Advisory Services LLC purchased a new position in shares of GE Aerospace during the fourth quarter valued at about $29,000. Finally, Picton Mahoney Asset Management increased its holdings in shares of GE Aerospace by 62.4% in the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the company’s stock worth $30,000 after purchasing an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Performance

GE Aerospace stock opened at $239.55 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The firm has a market capitalization of $255.45 billion, a P/E ratio of 39.99, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $257.47. The company’s 50-day moving average is $215.08 and its 200 day moving average is $197.88.

GE Aerospace (NYSE:GE) last released its 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 return on equity of 22.19% and a net margin of 14.31%. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.06 billion. Research analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GE. Royal Bank of Canada set a $275.00 price target on GE Aerospace and gave the company an “outperform” rating in a research note on Tuesday, June 3rd. Northcoast Research downgraded GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Redburn Atlantic began coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target on the stock. Citigroup lowered their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, UBS Group increased their price target 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. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $221.15.

Insider Activity at GE Aerospace

In other news, SVP Mohamed Ali sold 1,602 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 8,805 shares of the company’s stock, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the business’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 value of $807,379.92. Following the completion of the sale, the vice president now owns 11,540 shares of the company’s stock, valued at $2,270,264.20. The trade was a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

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.