Hillcrest Wealth Advisors NY LLC Reduces Stock Holdings in GE Aerospace (NYSE:GE)

Hillcrest Wealth Advisors NY LLC reduced its stake in shares of GE Aerospace (NYSE:GE) by 17.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,171 shares of the company’s stock after selling 2,140 shares during the quarter. GE Aerospace accounts for approximately 1.0% of Hillcrest Wealth Advisors NY LLC’s holdings, making the stock its 21st largest holding. Hillcrest Wealth Advisors NY LLC’s holdings in GE Aerospace were worth $2,036,000 at the end of the most recent reporting period.

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

Insider Activity

In other 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 directly 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 company’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 value of $321,473.34. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GE. Wells Fargo & Company boosted their price target on GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. UBS Group boosted their price objective on GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada set a $275.00 price objective on GE Aerospace and gave the stock an “outperform” rating in a research report on Tuesday, June 3rd. Northcoast Research cut GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Finally, Citigroup cut their price objective on GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.15.

GE Aerospace Trading Up 1.3%

GE Aerospace stock opened at $238.91 on Friday. The business has a 50 day moving average price of $221.93 and a two-hundred day moving average price of $200.27. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90. The stock has a market cap of $254.78 billion, a price-to-earnings ratio of 37.16, a price-to-earnings-growth ratio of 2.89 and a beta of 1.38. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $257.47.

GE Aerospace (NYSE:GE) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.29 by $0.20. The firm had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.06 billion. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. As a group, equities analysts forecast that GE Aerospace will post 5.4 EPS for the current 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.