Balboa Wealth Partners Has $205,000 Holdings in GE Aerospace (NYSE:GE)

Balboa Wealth Partners reduced its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 60.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,023 shares of the company's stock after selling 1,557 shares during the quarter. Balboa Wealth Partners' holdings in GE Aerospace were worth $205,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Truvestments Capital LLC raised its position in shares of GE Aerospace by 26.2% during the 4th quarter. Truvestments Capital LLC now owns 236 shares of the company's stock worth $39,000 after purchasing an additional 49 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE grew its position in shares of GE Aerospace by 17.6% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company's stock valued at $56,000 after purchasing an additional 50 shares during the period. Ballast Advisors LLC lifted its position in GE Aerospace by 2.5% during the fourth quarter. Ballast Advisors LLC now owns 2,093 shares of the company's stock worth $349,000 after buying an additional 51 shares during the period. Blue Barn Wealth LLC boosted its stake in GE Aerospace by 3.8% in the 4th quarter. Blue Barn Wealth LLC now owns 1,466 shares of the company's stock worth $245,000 after buying an additional 54 shares during the last quarter. Finally, First Heartland Consultants Inc. grew its holdings in GE Aerospace by 1.2% in the 4th quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company's stock valued at $789,000 after buying an additional 54 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

GE Aerospace Price Performance

GE stock traded up $1.57 during trading hours on Thursday, hitting $251.47. 6,786,784 shares of the stock traded hands, compared to its average volume of 5,394,869. The stock has a 50-day simple moving average of $225.79 and a 200 day simple moving average of $201.64. The company has a market cap of $268.16 billion, a P/E ratio of 39.11, a P/E/G ratio of 3.00 and a beta of 1.38. GE Aerospace has a one year low of $150.20 and a one year high of $257.47. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90.

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 (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.20. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. Equities analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

Insider Activity

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction 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 sale, the senior vice president now owns 8,805 shares of the company's stock, valued at $1,766,899.35. This trade represents a 15.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the company's stock in a transaction on Thursday, April 24th. The stock was 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. Corporate insiders own 0.21% of the company's stock.

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.