Sowell Financial Services LLC Takes $1.34 Million Position in GE Aerospace (NYSE:GE)

Sowell Financial Services LLC acquired a new position in GE Aerospace (NYSE:GE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,704 shares of the company's stock, valued at approximately $1,342,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of GE Aerospace by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company's stock worth $14,980,297,000 after purchasing an additional 410,172 shares during the last quarter. FMR LLC increased its stake in GE Aerospace by 1.5% during the 4th quarter. FMR LLC now owns 66,823,968 shares of the company's stock valued at $11,145,570,000 after purchasing an additional 965,012 shares in the last quarter. Geode Capital Management LLC raised its holdings in GE Aerospace by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company's stock worth $3,846,587,000 after buying an additional 529,457 shares during the last quarter. Norges Bank bought a new position in shares of GE Aerospace in the fourth quarter worth approximately $2,375,439,000. Finally, Northern Trust Corp grew its holdings in shares of GE Aerospace by 5.8% during the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock valued at $1,675,717,000 after buying an additional 553,104 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

Insiders Place Their Bets

In related news, VP Robert M. Giglietti sold 4,104 shares of the company's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the completion of the transaction, the vice president now owns 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the firm's stock in a transaction 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 transaction, the senior vice president now directly owns 8,805 shares of the company's stock, valued at $1,766,899.35. The trade was 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 Stock Performance

NYSE GE traded up $0.08 during trading hours on Thursday, hitting $235.83. 7,760,968 shares of the company's stock traded hands, compared to its average volume of 5,415,230. 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 $251.48 billion, a P/E ratio of 36.68, a P/E/G ratio of 2.85 and a beta of 1.38. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90. The business's fifty day moving average price is $219.70 and its two-hundred day moving average price is $199.37.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings data 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. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. Equities research analysts predict that GE Aerospace will post 5.4 EPS for the current year.

Analyst Upgrades and Downgrades

GE has been the subject of a number of recent analyst reports. Citigroup decreased their price objective 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. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Royal Bank Of Canada set a $275.00 target price on GE Aerospace and gave the stock an "outperform" rating in a research report on Tuesday, June 3rd. UBS Group upped their target price 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. Finally, Wells Fargo & Company lifted their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $221.15.

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.