Envestnet Portfolio Solutions Inc. Lowers Stock Holdings in GE Aerospace (NYSE:GE)

Envestnet Portfolio Solutions Inc. reduced its holdings in GE Aerospace (NYSE:GE - Free Report) by 43.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,466 shares of the company's stock after selling 20,946 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in GE Aerospace were worth $5,497,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. New Age Alpha Advisors LLC increased its position in shares of 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 in the last quarter. Sumitomo Mitsui Financial Group Inc. acquired a new stake in GE Aerospace during the 4th quarter worth $28,000. Putney Financial Group LLC purchased a new stake in shares of GE Aerospace during the fourth quarter worth $28,000. CBIZ Investment Advisory Services LLC acquired a new stake in shares of GE Aerospace in the fourth quarter valued at about $29,000. Finally, Copia Wealth Management lifted its stake in shares of GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after buying an additional 142 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GE shares. UBS Group increased their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Wells Fargo & Company boosted their price objective on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Citigroup reduced their price target on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Royal Bank Of Canada set a $275.00 target price on shares of GE Aerospace and gave the stock an "outperform" rating in a research note on Tuesday, June 3rd. Finally, Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, GE Aerospace currently has an average rating of "Moderate Buy" and a consensus price target of $221.15.

GE Aerospace Trading Up 0.5%

Shares of GE traded up $1.14 during midday trading on Tuesday, hitting $248.95. 5,254,813 shares of the stock were exchanged, compared to its average volume of 5,396,363. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $257.47. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. The stock has a fifty day simple moving average of $223.18 and a 200 day simple moving average of $200.97. The firm has a market cap of $265.48 billion, a P/E ratio of 38.72, a P/E/G ratio of 2.89 and a beta of 1.38.

GE Aerospace (NYSE:GE - Get Free Report) last released its 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. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. On average, research analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

Insider Buying and Selling at GE Aerospace

In related news, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 8,805 shares of the company's stock, valued at $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the 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 in the company, valued at $2,270,264.20. This trade represents 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 currently owned by corporate insiders.

GE Aerospace Company 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.