New England Research & Management Inc. Reduces Holdings in GE Aerospace (NYSE:GE)

New England Research & Management Inc. reduced its position in GE Aerospace (NYSE:GE) by 59.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,247 shares of the company’s stock after selling 4,728 shares during the period. New England Research & Management Inc.’s holdings in GE Aerospace were worth $650,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GE. Brighton Jones LLC increased its stake in GE Aerospace by 25.3% during the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company’s stock worth $2,003,000 after buying an additional 2,421 shares during the period. Revolve Wealth Partners LLC grew its position in shares of GE Aerospace by 7.1% during the 4th 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. Avidian Wealth Enterprises LLC grew its position in shares of GE Aerospace by 9.2% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 2,556 shares of the company’s stock valued at $426,000 after buying an additional 215 shares during the last quarter. Avestar Capital LLC grew its position in shares of GE Aerospace by 22.2% during the 4th quarter. Avestar Capital LLC now owns 6,444 shares of the company’s stock valued at $1,075,000 after buying an additional 1,171 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in GE Aerospace by 2.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 443,365 shares of the company’s stock valued at $75,408,000 after purchasing an additional 10,254 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Trading Down 1.6%

GE opened at $236.07 on Friday. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $257.47. The company has a 50-day simple moving average of $216.42 and a 200 day simple moving average of $198.24. 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 stock has a market capitalization of $251.74 billion, a price-to-earnings ratio of 39.41, a P/E/G ratio of 2.59 and a beta of 1.38.

GE Aerospace (NYSE:GE) last released 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. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. Analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. UBS Group upped their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Royal Bank of Canada set a $275.00 price target on shares of GE Aerospace and gave the company an “outperform” rating in a report on Tuesday, June 3rd. Citigroup dropped their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. 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 target price for the company. Finally, Northcoast Research downgraded shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, GE Aerospace currently has an average rating of “Moderate Buy” and a consensus price target of $221.15.

Insider Buying and Selling at GE Aerospace

In other GE Aerospace 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 transaction, the senior vice president now directly owns 8,805 shares in the company, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the firm’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the transaction, the vice president now owns 11,540 shares of the company’s stock, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

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.