Sowell Financial Services LLC Purchases New Position in GE Aerospace (NYSE:GE)

Sowell Financial Services LLC acquired a new stake in GE Aerospace (NYSE:GE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,704 shares of the company's stock, valued at approximately $1,342,000.

Other institutional investors have also modified their holdings of the company. Truvestments Capital LLC grew its holdings in GE Aerospace by 26.2% in the 4th quarter. Truvestments Capital LLC now owns 236 shares of the company's stock valued at $39,000 after buying an additional 49 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE grew its holdings in shares of GE Aerospace by 17.6% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company's stock valued at $56,000 after purchasing an additional 50 shares during the period. Ballast Advisors LLC grew its holdings in shares of GE Aerospace by 2.5% in the fourth quarter. Ballast Advisors LLC now owns 2,093 shares of the company's stock valued at $349,000 after purchasing an additional 51 shares during the period. Blue Barn Wealth LLC grew its holdings in shares of GE Aerospace by 3.8% in the fourth quarter. Blue Barn Wealth LLC now owns 1,466 shares of the company's stock valued at $245,000 after purchasing an additional 54 shares during the period. Finally, First Heartland Consultants Inc. grew its holdings in shares of GE Aerospace by 1.2% in the fourth quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company's stock valued at $789,000 after purchasing an additional 54 shares during the period. 74.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Citigroup lowered their price objective on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Wells Fargo & Company increased their price target on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Royal Bank Of Canada set a $275.00 price target on GE Aerospace and gave the stock an "outperform" rating in a report on Tuesday, June 3rd. Finally, UBS Group increased their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, GE Aerospace has a consensus rating of "Moderate Buy" and a consensus target price of $221.15.

GE Aerospace Stock Up 1.3%

GE stock traded up $3.02 during midday trading on Friday, hitting $238.91. The company's stock had a trading volume of 9,076,781 shares, compared to its average volume of 5,386,266. 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 has a 52-week low of $150.20 and a 52-week high of $257.47. The firm has a market capitalization of $254.78 billion, a P/E ratio of 37.16, a PEG ratio of 2.89 and a beta of 1.38. The firm has a 50-day simple moving average of $221.93 and a 200-day simple moving average of $200.27.

GE Aerospace (NYSE:GE - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.20. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. As a group, equities analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

Insider Buying and Selling

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction dated 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. The trade was a 26.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Mohamed Ali sold 1,602 shares of the business'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 sale, the senior vice president now owns 8,805 shares of the company's stock, valued at approximately $1,766,899.35. The trade was 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 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.