BNC Wealth Management LLC Boosts Stake in GE Aerospace (NYSE:GE)

BNC Wealth Management LLC increased its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 12.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,764 shares of the company's stock after buying an additional 1,262 shares during the period. BNC Wealth Management LLC's holdings in GE Aerospace were worth $2,355,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GE. Norges Bank purchased a new stake in shares of GE Aerospace in the 4th quarter valued at about $2,375,439,000. GAMMA Investing LLC raised its stake in GE Aerospace by 23,611.7% in the first quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock valued at $1,013,959,000 after purchasing an additional 5,044,632 shares in the last quarter. Janus Henderson Group PLC lifted its position in GE Aerospace by 87.7% during the fourth quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock valued at $597,412,000 after purchasing an additional 1,673,365 shares during the last quarter. Invesco Ltd. grew its stake in GE Aerospace by 14.4% in the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after buying an additional 1,204,910 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in GE Aerospace in the 4th quarter worth approximately $194,208,000. Institutional investors own 74.77% of the company's stock.

Analysts Set New Price Targets

GE has been the topic of several research reports. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Citigroup decreased their price objective 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 GE Aerospace and gave the company an "outperform" rating in a report on Tuesday, June 3rd. Redburn Atlantic began coverage on GE Aerospace in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price target on the stock. Finally, Wells Fargo & Company boosted their price objective on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $221.15.

Insider Buying and Selling

In related news, VP Robert M. Giglietti sold 4,104 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The shares were 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the company'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 value of $321,473.34. Following the completion of the transaction, the senior vice president now directly owns 8,805 shares in the company, valued at $1,766,899.35. This trade 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 currently owned by company insiders.

GE Aerospace Trading Down 0.1%

GE Aerospace stock traded down $0.22 during mid-day trading on Monday, reaching $236.38. 4,396,429 shares of the company traded hands, compared to its average volume of 5,420,401. The firm's 50 day moving average price is $217.77 and its 200 day moving average price is $198.86. 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 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The firm has a market capitalization of $252.07 billion, a price-to-earnings ratio of 39.46, a P/E/G ratio of 2.59 and a beta of 1.38.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. On average, analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal 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.