Alpine Bank Wealth Management Buys New Shares in GE Aerospace (NYSE:GE)

Alpine Bank Wealth Management purchased a new stake in GE Aerospace (NYSE:GE - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,976 shares of the company's stock, valued at approximately $596,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HBK Sorce Advisory LLC raised its position in GE Aerospace by 14.1% in the first quarter. HBK Sorce Advisory LLC now owns 17,882 shares of the company's stock valued at $3,579,000 after purchasing an additional 2,210 shares during the period. Golden State Wealth Management LLC lifted its position in shares of GE Aerospace by 199.6% in the 1st quarter. Golden State Wealth Management LLC now owns 4,515 shares of the company's stock worth $904,000 after buying an additional 3,008 shares during the last quarter. Bessemer Group Inc. boosted its position in GE Aerospace by 6.9% during the 1st quarter. Bessemer Group Inc. now owns 30,693 shares of the company's stock valued at $6,144,000 after purchasing an additional 1,979 shares during the period. Corundum Group Inc. acquired a new position in shares of GE Aerospace during the first quarter valued at $292,000. Finally, First Pacific Financial grew its position in GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after purchasing an additional 52 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

GE Aerospace Price Performance

Shares of GE traded up $1.57 on Thursday, hitting $251.47. The company's stock had a trading volume of 6,786,784 shares, compared to its average volume of 5,400,459. The company has a market capitalization of $268.16 billion, a PE ratio of 39.11, a PEG ratio of 3.01 and a beta of 1.38. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $257.47. The company has a 50 day moving average price of $225.79 and a 200 day moving average price of $201.64. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.08 and a quick ratio of 0.77.

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 the consensus estimate of $1.29 by $0.20. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. On average, research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on GE. Northcoast Research cut shares of 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 price target on shares of GE Aerospace and gave the company an "outperform" rating in a report on Tuesday, June 3rd. 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 research note on Thursday, April 24th. UBS Group lifted their price objective 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. Finally, Citigroup reduced their target price on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $221.15.

Insider Buying and Selling at GE Aerospace

In other news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction 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 completion of 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 trade represents a 15.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the company's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the transaction, the vice president now owns 11,540 shares in the company, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.