Nvest Financial LLC Takes Position in GE Aerospace (NYSE:GE)

Nvest Financial LLC purchased a new position in GE Aerospace (NYSE:GE) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,049 shares of the company’s stock, valued at approximately $210,000.

A number of other hedge funds also recently bought and sold shares of GE. Copia Wealth Management raised its position in shares of GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company’s stock worth $29,000 after purchasing an additional 142 shares during the last quarter. New Age Alpha Advisors LLC raised its holdings in shares of 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 during the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of GE Aerospace in the fourth quarter valued at approximately $28,000. First Pacific Financial boosted its stake in shares of GE Aerospace by 46.0% in the first quarter. First Pacific Financial now owns 165 shares of the company’s stock worth $33,000 after acquiring an additional 52 shares during the last quarter. Finally, Putney Financial Group LLC acquired a new stake in shares of GE Aerospace in the fourth quarter worth approximately $28,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GE shares. UBS Group raised their price objective on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Royal Bank Of Canada set a $275.00 price target on shares of GE Aerospace and gave the stock an “outperform” rating in a research note 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 for the company in a research note on Thursday, April 10th. Northcoast Research lowered shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Finally, Wells Fargo & Company upped their price target on GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, GE Aerospace presently has an average rating of “Moderate Buy” and a consensus target price of $221.15.

GE Aerospace Price Performance

GE stock opened at $249.86 on Thursday. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $257.47. The business has a fifty day moving average of $225.79 and a two-hundred day moving average of $201.64. The stock has a market cap of $266.45 billion, a price-to-earnings ratio of 38.86, a price-to-earnings-growth ratio of 3.00 and a beta of 1.38. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90.

GE Aerospace (NYSE:GE) last posted 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 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. As a group, research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

Insider Buying and Selling

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 value of $321,473.34. Following the completion of the transaction, the senior vice president now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction 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. The trade was a 26.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate 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.