Ascent Group LLC Has $3.26 Million Holdings in GE Aerospace (NYSE:GE)

Ascent Group LLC raised its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 8.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,555 shares of the company's stock after purchasing an additional 1,444 shares during the quarter. Ascent Group LLC's holdings in GE Aerospace were worth $3,262,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. New Age Alpha Advisors LLC raised its stake in shares of GE Aerospace by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after acquiring an additional 84 shares during the last quarter. Hager Investment Management Services LLC bought a new position in shares of GE Aerospace in the fourth quarter valued at approximately $27,000. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of GE Aerospace in the fourth quarter valued at approximately $28,000. Putney Financial Group LLC bought a new position in shares of GE Aerospace in the fourth quarter valued at approximately $28,000. Finally, CBIZ Investment Advisory Services LLC bought a new position in shares of GE Aerospace in the fourth quarter valued at approximately $29,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GE. Citigroup cut their target price on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Redburn Atlantic initiated coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price objective for the company. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. UBS Group boosted 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, Wells Fargo & Company boosted their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research report 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $216.92.

GE Aerospace Trading Up 0.8%

Shares of GE Aerospace stock traded up $1.86 on Wednesday, hitting $243.64. 9,563,217 shares of the company's stock traded hands, compared to its average volume of 5,362,129. The firm's 50-day moving average price is $203.06 and its two-hundred day moving average price is $192.40. The stock has a market capitalization of $259.81 billion, a PE ratio of 40.67, a price-to-earnings-growth ratio of 2.59 and a beta of 1.31. GE Aerospace has a one year low of $150.20 and a one year high of $245.95. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

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

Insider Activity

In other news, SVP Mohamed Ali sold 1,602 shares of the business's 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 of the company's stock, valued at $1,766,899.35. The trade was a 15.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the company's stock in a transaction 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 completion of the transaction, the vice president now directly owns 11,540 shares of the company's stock, 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. 0.21% of the stock is owned by company insiders.

About GE Aerospace

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.