Amplius Wealth Advisors LLC Invests $231,000 in GE Aerospace (NYSE:GE)

Amplius Wealth Advisors LLC purchased a new position in GE Aerospace (NYSE:GE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,155 shares of the company's stock, valued at approximately $231,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Chung Wu Investment Group LLC purchased a new position in GE Aerospace during the 4th quarter worth $795,000. National Bank of Canada FI boosted its stake in GE Aerospace by 2.9% in the 4th quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock worth $177,535,000 after purchasing an additional 29,844 shares in the last quarter. National Pension Service boosted its stake in GE Aerospace by 1.7% in the 4th quarter. National Pension Service now owns 2,254,637 shares of the company's stock worth $376,051,000 after purchasing an additional 37,884 shares in the last quarter. FourThought Financial Partners LLC purchased a new stake in GE Aerospace during the 4th quarter worth approximately $507,000. Finally, Invesco Ltd. increased its stake in GE Aerospace by 14.4% during the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock valued at $1,591,970,000 after purchasing an additional 1,204,910 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GE has been the subject of several research reports. 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 note on Wednesday, April 23rd. Citigroup reduced their price objective on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Royal Bank of Canada boosted their price objective on GE Aerospace from $220.00 to $275.00 and gave the company an "outperform" rating in a report on Tuesday. Redburn Atlantic began coverage on GE Aerospace in a report on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price on the stock. Finally, Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $221.15.

GE Aerospace Price Performance

Shares of NYSE:GE traded up $0.85 during midday trading on Thursday, hitting $251.73. The company's stock had a trading volume of 4,140,352 shares, compared to its average volume of 5,359,362. 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 simple moving average is $207.88 and its 200 day simple moving average is $195.04. The company has a market cap of $268.44 billion, a P/E ratio of 42.03, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $253.06.

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

Insider Activity

In related news, SVP Mohamed Ali sold 1,602 shares of the business's 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 sale, the senior vice president now owns 8,805 shares in the company, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the company's stock in a transaction that occurred 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 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.