Flower City Capital Buys New Shares in GE Aerospace (NYSE:GE)

Flower City Capital bought a new position in shares of GE Aerospace (NYSE:GE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,319 shares of the company's stock, valued at approximately $264,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GE. Brighton Jones LLC increased its position in GE Aerospace by 25.3% during the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock worth $2,003,000 after buying an additional 2,421 shares during the period. Revolve Wealth Partners LLC grew its stake in shares of GE Aerospace by 7.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock valued at $375,000 after purchasing an additional 150 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of GE Aerospace in the 4th quarter valued at approximately $228,000. Paradigm Asset Management Co. LLC grew its stake in shares of GE Aerospace by 44.3% in the 4th quarter. Paradigm Asset Management Co. LLC now owns 4,884 shares of the company's stock valued at $815,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Drum Hill Capital LLC purchased a new position in shares of GE Aerospace in the 4th quarter valued at approximately $287,000. Institutional investors and hedge funds own 74.77% of the company's stock.

Insiders Place Their Bets

In other news, SVP Mohamed Ali sold 1,602 shares of the business's stock in a transaction 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. The trade was a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the business's stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value 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. 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 owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on GE shares. UBS Group lifted their target price on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada set a $275.00 target price on GE Aerospace and gave the company an "outperform" rating in a research note on Tuesday, June 3rd. Wells Fargo & Company lifted their target price on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Citigroup lowered their target price on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, Northcoast Research downgraded 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 given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $221.15.

GE Aerospace Price Performance

GE traded up $1.11 during trading on Wednesday, reaching $249.86. 5,196,781 shares of the stock were exchanged, compared to its average volume of 5,389,296. The business's 50 day moving average price is $224.44 and its two-hundred day moving average price is $201.31. 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 company has a market capitalization of $266.45 billion, a price-to-earnings ratio of 38.86, a P/E/G ratio of 3.00 and a beta of 1.38. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $257.47.

GE Aerospace (NYSE:GE - Get Free Report) last posted 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 for 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%. As a group, equities research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

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.