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

Envestnet Portfolio Solutions Inc. reduced its stake in GE Aerospace (NYSE:GE - Free Report) by 43.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 reporting period.

Other institutional investors have also modified their holdings of the company. New Age Alpha Advisors LLC raised its holdings 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 in the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new position in GE Aerospace during the 4th quarter worth about $28,000. Putney Financial Group LLC purchased a new position in GE Aerospace during the 4th quarter valued at about $28,000. CBIZ Investment Advisory Services LLC bought a new stake in shares of GE Aerospace in the 4th quarter valued at about $29,000. Finally, Copia Wealth Management raised its holdings in shares of GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after purchasing an additional 142 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the firm's stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the company'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 sale, 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. Insiders own 0.21% of the company's stock.

GE Aerospace Stock Up 1.3%

NYSE GE traded up $3.02 during trading on Friday, hitting $238.91. The company's stock had a trading volume of 9,076,781 shares, compared to its average volume of 5,386,266. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $257.47. The company has a market cap of $254.78 billion, a PE ratio of 37.16, a P/E/G ratio of 2.89 and a beta of 1.38. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.08 and a quick ratio of 0.77. The business's 50 day simple moving average is $221.93 and its 200-day simple moving average is $200.27.

GE Aerospace (NYSE:GE - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.20. The company had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.06 billion. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. On average, equities analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.