Merit Financial Group LLC Purchases 15,182 Shares of GE Aerospace (NYSE:GE)

Merit Financial Group LLC increased its position in shares of GE Aerospace (NYSE:GE - Free Report) by 49.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 45,609 shares of the company's stock after acquiring an additional 15,182 shares during the period. Merit Financial Group LLC's holdings in GE Aerospace were worth $9,129,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its stake in GE Aerospace by 25.3% in the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock valued at $2,003,000 after purchasing an additional 2,421 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of GE Aerospace by 7.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock valued at $375,000 after buying an additional 150 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of GE Aerospace by 32.0% during the 4th quarter. Spire Wealth Management now owns 8,229 shares of the company's stock worth $1,372,000 after acquiring an additional 1,993 shares during the last quarter. Golden State Equity Partners grew its position in GE Aerospace by 255.2% in the fourth quarter. Golden State Equity Partners now owns 1,236 shares of the company's stock worth $206,000 after acquiring an additional 888 shares in the last quarter. Finally, KPP Advisory Services LLC increased its stake in GE Aerospace by 13.1% in the fourth quarter. KPP Advisory Services LLC now owns 1,545 shares of the company's stock valued at $258,000 after acquiring an additional 179 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Mohamed Ali sold 1,602 shares of the company's 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 directly owns 8,805 shares of the company's stock, valued at $1,766,899.35. This represents a 15.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the 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 completion of the transaction, the vice president now owns 11,540 shares of the company's stock, valued at approximately $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. Company insiders own 0.21% of the company's stock.

GE Aerospace Trading Up 1.2%

GE Aerospace stock traded up $2.98 during mid-day trading on Friday, reaching $254.90. 3,821,211 shares of the company traded hands, compared to its average volume of 5,358,017. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $257.41. The firm has a market capitalization of $271.82 billion, a price-to-earnings ratio of 42.56, a P/E/G ratio of 2.59 and a beta of 1.38. The firm's 50 day moving average price is $208.91 and its 200 day moving average price is $195.55.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.20. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The company had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.06 billion. On average, analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GE. Redburn Atlantic initiated coverage on GE Aerospace in a report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price objective for the company. Royal Bank of Canada set a $275.00 target price on GE Aerospace and gave the stock an "outperform" rating in a research note on Tuesday. Wells Fargo & Company increased their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. UBS Group increased 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. Finally, Citigroup decreased their price target on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.