Great Lakes Retirement Inc. Increases Stock Position in GE Aerospace (NYSE:GE)

Great Lakes Retirement Inc. lifted its position in shares of GE Aerospace (NYSE:GE) by 5.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,612 shares of the company’s stock after purchasing an additional 132 shares during the period. Great Lakes Retirement Inc.’s holdings in GE Aerospace were worth $523,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Brighton Jones LLC grew its stake in GE Aerospace by 25.3% during the fourth 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 boosted its position in GE Aerospace by 7.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company’s stock worth $375,000 after purchasing an additional 150 shares during the period. Vontobel Holding Ltd. boosted its position in GE Aerospace by 40.9% during the 4th quarter. Vontobel Holding Ltd. now owns 22,068 shares of the company’s stock worth $3,681,000 after purchasing an additional 6,404 shares during the period. Nations Financial Group Inc. IA ADV increased its holdings in GE Aerospace by 9.7% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 2,528 shares of the company’s stock valued at $422,000 after purchasing an additional 223 shares in the last quarter. Finally, Principal Securities Inc. raised its position in GE Aerospace by 57.0% in the fourth quarter. Principal Securities Inc. now owns 17,093 shares of the company’s stock valued at $2,851,000 after purchasing an additional 6,207 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at GE Aerospace

In related news, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the sale, the vice president now owns 11,540 shares in the company, valued at $2,270,264.20. This represents a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 8,805 shares in the company, valued at $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.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. 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. UBS Group upped 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 lowered shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Citigroup decreased their target price on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Finally, Wells Fargo & Company raised their price target 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 investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, GE Aerospace currently has a consensus rating of “Moderate Buy” and an average target price of $221.15.

GE Aerospace Stock Performance

Shares of GE Aerospace stock opened at $236.38 on Tuesday. The firm has a market cap of $252.07 billion, a PE ratio of 39.46, 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 firm’s 50-day simple moving average is $217.77 and its 200-day simple moving average is $198.86. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

GE Aerospace (NYSE:GE) last announced 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 analysts’ expectations of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. Equities analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal 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.