Wealth Effects LLC Has $365,000 Stock Holdings in GE Aerospace (NYSE:GE)

Wealth Effects LLC cut its position in shares of GE Aerospace (NYSE:GE) by 19.8% during the 1st quarter, Holdings Channel reports. The firm owned 1,824 shares of the company’s stock after selling 450 shares during the quarter. Wealth Effects LLC’s holdings in GE Aerospace were worth $365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Tyche Wealth Partners LLC increased its stake in shares of GE Aerospace by 10.1% during the 1st quarter. Tyche Wealth Partners LLC now owns 3,076 shares of the company’s stock worth $616,000 after purchasing an additional 281 shares during the last quarter. Alpine Bank Wealth Management acquired a new position in GE Aerospace in the 1st quarter valued at about $596,000. HBK Sorce Advisory LLC grew its stake in GE Aerospace by 14.1% in the 1st quarter. HBK Sorce Advisory LLC now owns 17,882 shares of the company’s stock valued at $3,579,000 after buying an additional 2,210 shares during the last quarter. Golden State Wealth Management LLC grew its stake in GE Aerospace by 199.6% in the 1st quarter. Golden State Wealth Management LLC now owns 4,515 shares of the company’s stock valued at $904,000 after buying an additional 3,008 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in GE Aerospace by 6.9% in the 1st quarter. Bessemer Group Inc. now owns 30,693 shares of the company’s stock valued at $6,144,000 after buying an additional 1,979 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at GE Aerospace

In other news, 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 transaction of $321,473.34. Following the completion of the sale, the senior vice president now owns 8,805 shares of the company’s stock, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 of the company’s stock, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

GE Aerospace Stock Performance

NYSE GE opened at $249.86 on Thursday. 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 company has a market capitalization of $266.45 billion, a P/E ratio of 38.86, a P/E/G ratio of 3.00 and a beta of 1.38. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $257.47. The firm has a 50-day moving average price of $225.79 and a two-hundred day moving average price of $201.64.

GE Aerospace (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $9.06 billion. Analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of research reports. Northcoast Research lowered shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. 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 note on Tuesday, June 3rd. Wells Fargo & Company upped their price target 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. Citigroup decreased 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 note on Thursday, April 10th. Finally, UBS Group upped their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, GE Aerospace currently has a consensus rating of “Moderate Buy” and an average price target of $221.15.

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.