Tang Capital Management LLC Increases Stake in GE Aerospace (NYSE:GE)

Tang Capital Management LLC increased its position in GE Aerospace (NYSE:GE) by 327.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,911 shares of the company’s stock after acquiring an additional 4,528 shares during the quarter. Tang Capital Management LLC’s holdings in GE Aerospace were worth $986,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GE. Tema Etfs LLC purchased a new position in GE Aerospace during the 4th quarter valued at about $1,204,000. Toronto Dominion Bank grew its holdings in GE Aerospace by 54.9% during the 4th quarter. Toronto Dominion Bank now owns 833,536 shares of the company’s stock valued at $139,026,000 after buying an additional 295,563 shares in the last quarter. Scissortail Wealth Management LLC grew its holdings in GE Aerospace by 20,385.7% during the 4th quarter. Scissortail Wealth Management LLC now owns 1,434 shares of the company’s stock valued at $240,000 after buying an additional 1,427 shares in the last quarter. Snowden Capital Advisors LLC grew its holdings in GE Aerospace by 13.2% during the 4th quarter. Snowden Capital Advisors LLC now owns 8,756 shares of the company’s stock valued at $1,463,000 after buying an additional 1,023 shares in the last quarter. Finally, Siemens Fonds Invest GmbH grew its holdings in GE Aerospace by 86.8% during the 4th quarter. Siemens Fonds Invest GmbH now owns 54,462 shares of the company’s stock valued at $9,084,000 after buying an additional 25,303 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GE. Wells Fargo & Company lifted their target price on GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. UBS Group lifted their target price on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Northcoast Research raised GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 target price for the company in a report on Wednesday, April 9th. Citigroup reduced their target price on GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. lifted their target price on GE Aerospace from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $216.92.

Insiders Place Their Bets

In other GE Aerospace 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 completion of the sale, the vice president now owns 11,540 shares of the company’s stock, valued at $2,270,264.20. This represents a 26.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was 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 directly 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 disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

GE Aerospace Stock Up 1.1%

GE stock opened at $231.86 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The company’s 50 day moving average is $198.19 and its 200 day moving average is $189.58. The stock has a market cap of $247.25 billion, a price-to-earnings ratio of 38.71, a price-to-earnings-growth ratio of 2.59 and a beta of 1.31. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $232.32.

GE Aerospace (NYSE:GE) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.20. The company had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. Sell-side analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal 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.