Spectrum Asset Management Inc. NB CA Takes $222,000 Position in GE Aerospace (NYSE:GE)

Spectrum Asset Management Inc. NB CA bought a new stake in GE Aerospace (NYSE:GE - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 1,105 shares of the company's stock, valued at approximately $222,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GE. Norges Bank acquired a new stake in GE Aerospace in the 4th quarter worth $2,375,439,000. GAMMA Investing LLC grew its position in GE Aerospace by 23,611.7% in the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock worth $1,013,959,000 after purchasing an additional 5,044,632 shares during the last quarter. Janus Henderson Group PLC grew its position in GE Aerospace by 87.7% in the 4th quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock worth $597,412,000 after purchasing an additional 1,673,365 shares during the last quarter. Invesco Ltd. grew its position in GE Aerospace by 14.4% in the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after purchasing an additional 1,204,910 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in GE Aerospace in the 4th quarter worth $194,208,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GE has been the subject of a number of analyst reports. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Redburn Atlantic initiated coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price objective for the company. Wells Fargo & Company raised their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. UBS Group lifted their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Finally, Citigroup cut their price target on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $221.15.

GE Aerospace Price Performance

Shares of NYSE GE traded down $5.97 during trading on Thursday, reaching $239.55. The company had a trading volume of 8,923,649 shares, compared to its average volume of 5,430,012. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $257.47. The stock has a market cap of $255.45 billion, a PE ratio of 39.99, a PEG ratio of 2.59 and a beta of 1.38. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The business's 50 day moving average price is $213.64 and its 200-day moving average price is $197.47.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping 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 company had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.06 billion. Analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

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 value of $321,473.34. Following the completion of the transaction, the senior vice president now owns 8,805 shares in the company, valued at $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the company'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 sale, the vice president now directly owns 11,540 shares in the company, valued at $2,270,264.20. This trade represents 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 owned by corporate insiders.

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.