Beacon Financial Group Acquires New Position in GE Aerospace (NYSE:GE)

Beacon Financial Group acquired a new stake in shares of GE Aerospace (NYSE:GE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,096 shares of the company's stock, valued at approximately $219,000.

Several other hedge funds have also made changes to their positions in the company. Warren Street Wealth Advisors LLC purchased a new stake in shares of GE Aerospace in the 1st quarter valued at approximately $245,000. Matrix Trust Co purchased a new stake in shares of GE Aerospace in the 1st quarter valued at approximately $221,000. TruWealth Advisors LLC purchased a new stake in shares of GE Aerospace in the 1st quarter valued at approximately $200,000. Wealth Alliance Advisory Group LLC grew its stake in shares of GE Aerospace by 19.9% in the 1st quarter. Wealth Alliance Advisory Group LLC now owns 9,989 shares of the company's stock valued at $1,999,000 after buying an additional 1,657 shares during the period. Finally, Nixon Peabody Trust Co. grew its stake in shares of GE Aerospace by 9.8% in the 1st quarter. Nixon Peabody Trust Co. now owns 2,827 shares of the company's stock valued at $566,000 after buying an additional 252 shares during the period. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Price Performance

GE Aerospace stock opened at $255.71 on Friday. The firm has a market cap of $272.69 billion, a PE ratio of 42.69, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $257.47. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The company's 50 day moving average is $209.94 and its two-hundred day moving average is $196.09.

GE Aerospace (NYSE:GE - Get Free Report) last released 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 company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. On average, research analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Redburn Atlantic initiated coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price objective on the stock. UBS Group upped their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Royal Bank of Canada set a $275.00 price objective on shares of GE Aerospace and gave the stock an "outperform" rating in a report on Tuesday. Finally, Wells Fargo & Company upped their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $221.15.

Insider Activity

In other news, VP Robert M. Giglietti sold 4,104 shares of the firm's 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 sale, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 completion of the sale, the senior vice president now owns 8,805 shares in the company, 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 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.

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