Hoey Investments Inc. Cuts Stock Position in GE Aerospace (NYSE:GE)

Hoey Investments Inc. decreased its position in GE Aerospace (NYSE:GE - Free Report) by 22.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 29,253 shares of the company's stock after selling 8,310 shares during the period. GE Aerospace comprises 1.1% of Hoey Investments Inc.'s portfolio, making the stock its 10th biggest position. Hoey Investments Inc.'s holdings in GE Aerospace were worth $5,855,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of GE. New Age Alpha Advisors LLC increased its position in shares of GE Aerospace by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after purchasing an additional 84 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of GE Aerospace during the fourth quarter worth approximately $28,000. Putney Financial Group LLC acquired a new position in shares of GE Aerospace in the fourth quarter valued at approximately $28,000. CBIZ Investment Advisory Services LLC bought a new position in shares of GE Aerospace during the fourth quarter worth approximately $29,000. Finally, Picton Mahoney Asset Management lifted its holdings in GE Aerospace by 62.4% during the 4th quarter. Picton Mahoney Asset Management now owns 177 shares of the company's stock worth $30,000 after purchasing an additional 68 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Price Performance

Shares of GE traded up $0.56 during midday trading on Monday, hitting $237.16. The company's stock had a trading volume of 2,602,232 shares, compared to its average volume of 5,897,440. 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 one year low of $150.20 and a one year high of $257.47. The stock has a market capitalization of $252.91 billion, a price-to-earnings ratio of 39.59, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. The company's fifty day simple moving average is $216.42 and its two-hundred day simple moving average is $198.48.

GE Aerospace (NYSE:GE - Get Free Report) last released its 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 firm 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%. As a group, equities analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Insider Activity

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction dated 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 in the company, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wells Fargo & Company increased their price objective on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Redburn Atlantic initiated coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price on the stock. UBS Group raised their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Finally, Citigroup cut their price target 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. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, GE Aerospace has a consensus rating of "Moderate Buy" and a consensus target price 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.