GE Aerospace (NYSE:GE) Shares Bought by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division grew its holdings in GE Aerospace (NYSE:GE - Free Report) by 54.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,074 shares of the company's stock after purchasing an additional 5,674 shares during the quarter. Central Pacific Bank Trust Division's holdings in GE Aerospace were worth $3,217,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. New Age Alpha Advisors LLC raised its stake in GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after purchasing an additional 84 shares during the period. Hager Investment Management Services LLC purchased a new position in GE Aerospace during the fourth quarter worth approximately $27,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in GE Aerospace during the fourth quarter worth approximately $28,000. Putney Financial Group LLC purchased a new position in GE Aerospace during the fourth quarter worth approximately $28,000. Finally, CBIZ Investment Advisory Services LLC purchased a new position in GE Aerospace during the fourth quarter worth approximately $29,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GE. Royal Bank of Canada reaffirmed an "outperform" rating and set a $220.00 price target on shares of GE Aerospace in a research note on Wednesday, April 23rd. Citigroup cut their target price on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company raised their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Finally, UBS Group raised their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, GE Aerospace currently has an average rating of "Moderate Buy" and an average target price of $216.92.

GE Aerospace Stock Up 0.7%

GE traded up $1.68 during trading hours on Friday, reaching $245.84. 9,141,246 shares of the stock traded hands, compared to its average volume of 5,381,047. The firm's fifty day simple moving average is $205.20 and its two-hundred day simple moving average is $193.60. The company has a market cap of $262.16 billion, a price-to-earnings ratio of 41.04, a PEG ratio of 2.59 and a beta of 1.31. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $246.86. 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 released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.20. The business had revenue of $9.94 billion during 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%. As a group, analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GE Aerospace 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 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 $2,270,264.20. This trade represents a 26.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the transaction, the senior vice president now directly owns 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This represents a 15.39% 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.