Hanson & Doremus Investment Management Grows Stake in GE Aerospace (NYSE:GE)

Hanson & Doremus Investment Management boosted its position in shares of GE Aerospace (NYSE:GE - Free Report) by 70.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,449 shares of the company's stock after acquiring an additional 2,668 shares during the quarter. Hanson & Doremus Investment Management's holdings in GE Aerospace were worth $1,291,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Optas LLC grew its stake in shares of GE Aerospace by 3.5% in the first quarter. Optas LLC now owns 7,823 shares of the company's stock worth $1,566,000 after acquiring an additional 266 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in GE Aerospace by 23.1% during the 1st quarter. Exchange Traded Concepts LLC now owns 69,365 shares of the company's stock worth $13,883,000 after purchasing an additional 13,009 shares in the last quarter. Prentice Wealth Management LLC grew its stake in GE Aerospace by 5.3% during the 1st quarter. Prentice Wealth Management LLC now owns 2,664 shares of the company's stock worth $533,000 after purchasing an additional 134 shares in the last quarter. Ritholtz Wealth Management increased its holdings in GE Aerospace by 7.8% during the 1st quarter. Ritholtz Wealth Management now owns 22,395 shares of the company's stock worth $4,482,000 after purchasing an additional 1,616 shares during the period. Finally, Dynamic Advisor Solutions LLC raised its position in GE Aerospace by 3.0% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 18,301 shares of the company's stock valued at $3,663,000 after purchasing an additional 532 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Stock Performance

Shares of NYSE GE traded up $0.08 during midday trading on Thursday, reaching $235.83. 7,760,968 shares of the company were exchanged, compared to its average volume of 5,415,230. The stock has a market cap of $251.48 billion, a P/E ratio of 36.68, a PEG ratio of 2.84 and a beta of 1.38. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $257.47. The stock has a fifty day simple moving average of $219.70 and a 200 day simple moving average of $199.37. 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 released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 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 business had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.06 billion. On average, research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction that occurred on Thursday, April 24th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Mohamed Ali sold 1,602 shares of the business's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the sale, the senior vice president now owns 8,805 shares in the company, valued at $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. UBS Group boosted their target price on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Citigroup cut their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Royal Bank Of Canada set a $275.00 price target on shares of GE Aerospace and gave the company an "outperform" rating in a research report on Tuesday, June 3rd. Finally, Wells Fargo & Company raised their price objective on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Two equities 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, GE Aerospace 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.