Advisor Resource Council Makes New Investment in GE Aerospace (NYSE:GE)

Advisor Resource Council purchased a new position in shares of GE Aerospace (NYSE:GE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,743 shares of the company's stock, valued at approximately $549,000.

Several other large investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of GE Aerospace during the 4th quarter worth $2,375,439,000. GAMMA Investing LLC lifted its position in shares of GE Aerospace by 23,611.7% during 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 lifted its position in shares of GE Aerospace by 87.7% during 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. lifted its position in shares of GE Aerospace by 14.4% during 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. purchased a new stake in shares of GE Aerospace during the 4th quarter worth $194,208,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

Insider Activity

In other news, SVP Mohamed Ali sold 1,602 shares of the 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 completion of the transaction, the senior vice president now owns 8,805 shares in the company, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction on Thursday, April 24th. The shares were 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Citigroup reduced their price target on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Royal Bank Of Canada set a $275.00 price target on shares of GE Aerospace and gave the stock an "outperform" rating in a research note on Tuesday, June 3rd. UBS Group boosted their price target 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. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Finally, Wells Fargo & Company boosted 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 research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $221.15.

GE Aerospace Price Performance

Shares of GE stock traded up $8.81 during trading hours on Monday, hitting $248.18. The company's stock had a trading volume of 7,881,512 shares, compared to its average volume of 5,972,467. The business has a fifty day moving average of $221.93 and a 200-day moving average of $200.46. The stock has a market cap of $264.66 billion, a price-to-earnings ratio of 38.60, a P/E/G ratio of 2.89 and a beta of 1.38. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $257.47. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90.

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

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.