Obermeyer Wealth Partners Acquires New Position in GE Aerospace (NYSE:GE)

Obermeyer Wealth Partners acquired a new stake in GE Aerospace (NYSE:GE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,743 shares of the company's stock, valued at approximately $291,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC grew its position 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 worth $25,000 after buying an additional 84 shares in the last quarter. Hager Investment Management Services LLC acquired a new position in GE Aerospace during the 4th quarter worth $27,000. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of GE Aerospace in the 4th quarter worth about $28,000. Sugar Maple Asset Management LLC acquired a new stake in shares of GE Aerospace in the 4th quarter valued at about $29,000. Finally, CBIZ Investment Advisory Services LLC bought a new position in shares of GE Aerospace during the fourth quarter worth about $29,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Stock Performance

Shares of NYSE GE traded up $2.48 during midday trading on Friday, reaching $231.86. 4,642,569 shares of the company traded hands, compared to its average volume of 5,348,125. The stock has a 50-day moving average price of $197.39 and a 200 day moving average price of $189.08. The company has a market cap of $247.25 billion, a price-to-earnings ratio of 38.71, a PEG ratio of 2.59 and a beta of 1.31. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $232.28.

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

Analysts Set New Price Targets

Several analysts recently weighed in on GE shares. Citigroup lowered their price objective on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. lifted their price objective on shares of GE Aerospace from $190.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. UBS Group raised their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Redburn Atlantic initiated coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price objective for the company. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $220.00 target price on shares of GE Aerospace in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, GE Aerospace currently has a consensus rating of "Moderate Buy" and an average price target of $216.92.

Insider Transactions at GE Aerospace

In other news, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction 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 completion of the sale, the vice president now directly owns 11,540 shares of the company's stock, valued at $2,270,264.20. This trade represents a 26.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

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.