Gradient Investments LLC Makes New Investment in GE Aerospace (NYSE:GE)

Gradient Investments LLC bought a new position in GE Aerospace (NYSE:GE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,436 shares of the company's stock, valued at approximately $287,000.

Other hedge funds also recently made changes to their positions in the company. New Age Alpha Advisors LLC boosted its stake in GE Aerospace by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after purchasing an additional 84 shares during the period. Hager Investment Management Services LLC acquired a new stake in GE Aerospace during the 4th quarter valued at $27,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in GE Aerospace during the 4th quarter valued at about $28,000. Putney Financial Group LLC acquired a new position in GE Aerospace in the 4th quarter valued at approximately $28,000. Finally, CBIZ Investment Advisory Services LLC acquired a new stake in GE Aerospace during the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on GE. Redburn Atlantic assumed coverage on GE Aerospace in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price objective for the company. 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 note on Thursday, April 24th. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Royal Bank of Canada set a $275.00 target price on GE Aerospace and gave the company an "outperform" rating in a research report on Tuesday. Finally, UBS Group raised their price target on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $221.15.

Insider Buying and Selling

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the business'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 transaction 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. The trade was a 15.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the sale, the vice president now directly owns 11,540 shares of the company's stock, valued at $2,270,264.20. This represents a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

GE Aerospace Stock Performance

Shares of NYSE GE traded up $2.98 during mid-day trading on Friday, reaching $254.90. 3,821,211 shares of the company were exchanged, compared to its average volume of 5,358,017. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $257.41. The stock has a market capitalization of $271.82 billion, a P/E ratio of 42.56, a P/E/G ratio of 2.59 and a beta of 1.38. The company's 50-day simple moving average is $208.91 and its 200-day simple moving average is $195.55. 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 (NYSE:GE - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.20. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. As a group, research analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Company 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.