GE Aerospace (NYSE:GE) Shares Sold by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC decreased its stake in GE Aerospace (NYSE:GE) by 0.4% in the 1st quarter, Holdings Channel reports. The firm owned 22,879 shares of the company’s stock after selling 99 shares during the quarter. Daymark Wealth Partners LLC’s holdings in GE Aerospace were worth $4,579,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Golden State Equity Partners lifted its stake in shares of GE Aerospace by 6.1% in the first quarter. Golden State Equity Partners now owns 1,312 shares of the company’s stock valued at $263,000 after purchasing an additional 76 shares during the period. E&G Advisors LP raised its holdings in GE Aerospace by 31.0% during the first quarter. E&G Advisors LP now owns 1,607 shares of the company’s stock worth $322,000 after purchasing an additional 380 shares during the last quarter. Global Assets Advisory LLC raised its holdings in GE Aerospace by 186.7% during the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company’s stock worth $2,751,000 after purchasing an additional 9,580 shares during the last quarter. Moran Wealth Management LLC raised its holdings in GE Aerospace by 10.5% during the first quarter. Moran Wealth Management LLC now owns 1,503 shares of the company’s stock worth $301,000 after purchasing an additional 143 shares during the last quarter. Finally, Symmetry Partners LLC acquired a new stake in GE Aerospace in the 1st quarter valued at about $207,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GE. Wells Fargo & Company increased their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Northcoast Research lowered shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. 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 research report on Wednesday, April 23rd. Citigroup lowered their price target on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, Royal Bank Of Canada set a $275.00 price target on shares of GE Aerospace and gave the company an “outperform” rating in a research report on Tuesday, June 3rd. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, GE Aerospace has a consensus rating of “Moderate Buy” and an average target price of $221.15.

Insiders Place Their Bets

In other 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 transaction, the vice president now directly owns 11,540 shares in the company, valued at $2,270,264.20. This represents a 26.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Mohamed Ali sold 1,602 shares of the 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 transaction, the senior vice president now owns 8,805 shares in the company, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

GE Aerospace Price Performance

GE Aerospace stock opened at $248.95 on Wednesday. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $257.47. The stock has a market capitalization of $265.48 billion, a P/E ratio of 38.72, a P/E/G ratio of 2.99 and a beta of 1.38. The firm’s 50-day moving average is $224.44 and its two-hundred day moving average is $201.31. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.08 and a quick ratio of 0.77.

GE Aerospace (NYSE:GE) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.20. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The company had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.06 billion. Equities analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

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.