Flower City Capital Invests $264,000 in GE Aerospace (NYSE:GE)

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

Several other hedge funds have also recently made changes to their positions in GE. New Age Alpha Advisors LLC raised its position in shares of GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after acquiring an additional 84 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of GE Aerospace in the 4th quarter worth about $28,000. Putney Financial Group LLC bought a new position in shares of GE Aerospace in the 4th quarter worth about $28,000. CBIZ Investment Advisory Services LLC bought a new position in shares of GE Aerospace in the 4th quarter worth about $29,000. Finally, Copia Wealth Management raised its position 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 worth $29,000 after acquiring an additional 142 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

Insider Buying and Selling at GE Aerospace

In other news, VP Robert M. Giglietti sold 4,104 shares of the business's stock in a transaction that occurred 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 transaction, the vice president now owns 11,540 shares in the company, valued at $2,270,264.20. The trade was a 26.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the business'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 owns 8,805 shares in the company, valued at $1,766,899.35. The trade was a 15.39% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

GE Aerospace Price Performance

GE stock opened at $238.91 on Friday. The company has a market capitalization of $254.78 billion, a P/E ratio of 37.16, a price-to-earnings-growth ratio of 2.89 and a beta of 1.38. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $257.47. The business has a 50-day simple moving average of $221.93 and a two-hundred day simple moving average of $200.27.

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 (EPS) 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 the consensus estimate of $9.06 billion. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. Research analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on GE shares. Citigroup reduced their target price on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. 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 raised 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. UBS Group raised 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. Finally, Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $221.15.

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.

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Aerospace (NYSE:GE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.