Elevation Point Wealth Partners LLC Sells 3,554 Shares of GE Aerospace (NYSE:GE)

Elevation Point Wealth Partners LLC trimmed its stake in GE Aerospace (NYSE:GE - Free Report) by 61.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,247 shares of the company's stock after selling 3,554 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in GE Aerospace were worth $450,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. West Branch Capital LLC lifted its holdings in GE Aerospace by 406.5% during the first quarter. West Branch Capital LLC now owns 3,419 shares of the company's stock valued at $684,000 after purchasing an additional 2,744 shares during the last quarter. Everhart Financial Group Inc. raised its position in shares of GE Aerospace by 7.1% in the first quarter. Everhart Financial Group Inc. now owns 10,044 shares of the company's stock valued at $2,010,000 after purchasing an additional 667 shares during the period. Bensler LLC purchased a new stake in shares of GE Aerospace during the 1st quarter valued at approximately $211,000. Relyea Zuckerberg Hanson LLC boosted its holdings in GE Aerospace by 4.8% in the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 2,541 shares of the company's stock worth $509,000 after buying an additional 116 shares during the period. Finally, Paragon Capital Management Ltd purchased a new position in GE Aerospace in the 1st quarter valued at approximately $248,000. 74.77% of the stock is owned by institutional investors.

GE Aerospace Price Performance

NYSE:GE traded down $0.22 during midday trading on Monday, hitting $236.38. The company had a trading volume of 4,396,078 shares, compared to its average volume of 5,419,963. The company has a market capitalization of $252.07 billion, a PE ratio of 39.46, a P/E/G ratio of 2.59 and a beta of 1.38. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $257.47. The stock's fifty day moving average price is $216.42 and its 200-day moving average price is $198.48.

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 analysts' consensus estimates of $1.29 by $0.20. The firm had revenue of $9.94 billion during 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%. As a group, research analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

Insider Buying and Selling at GE Aerospace

In other news, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the sale, the senior vice president now owns 8,805 shares of the company's stock, valued at $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

Analyst Ratings Changes

GE has been the subject of a number of analyst reports. Redburn Atlantic initiated coverage on GE Aerospace in a report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price target for the company. Royal Bank of Canada set a $275.00 price objective on GE Aerospace and gave the stock an "outperform" rating in a report on Tuesday, June 3rd. UBS Group lifted their target price on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Finally, Citigroup reduced their price objective 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 research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently 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.