Heartland Bank & Trust Co Acquires New Position in GE Aerospace (NYSE:GE)

Heartland Bank & Trust Co acquired a new stake in shares of GE Aerospace (NYSE:GE - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,432 shares of the company's stock, valued at approximately $687,000.

Several other hedge funds have also added to or reduced their stakes in GE. Vanguard Group Inc. raised its position in shares of GE Aerospace by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company's stock worth $14,980,297,000 after purchasing an additional 410,172 shares during the last quarter. FMR LLC grew its position in GE Aerospace by 1.5% during the 4th quarter. FMR LLC now owns 66,823,968 shares of the company's stock valued at $11,145,570,000 after purchasing an additional 965,012 shares during the last quarter. Geode Capital Management LLC increased its stake in GE Aerospace by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company's stock valued at $3,846,587,000 after purchasing an additional 529,457 shares in the last quarter. Norges Bank purchased a new position in GE Aerospace in the fourth quarter worth about $2,375,439,000. Finally, Northern Trust Corp raised its holdings in GE Aerospace by 5.8% in the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock worth $1,675,717,000 after buying an additional 553,104 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction on 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 sale, the senior vice president now directly owns 8,805 shares in the company, valued at $1,766,899.35. This represents a 15.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction 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 completion of the transaction, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. This represents 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 insiders.

GE Aerospace Stock Performance

Shares of GE stock traded up $1.11 on Wednesday, reaching $249.86. The stock had a trading volume of 5,196,781 shares, compared to its average volume of 5,389,296. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $257.47. The stock has a market cap of $266.45 billion, a P/E ratio of 38.86, a price-to-earnings-growth ratio of 3.00 and a beta of 1.38. The company has a 50 day simple moving average of $224.44 and a 200 day simple moving average of $201.31.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.20. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. Equities research analysts expect that GE Aerospace will post 5.4 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GE. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Citigroup cut their target price 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. Royal Bank Of Canada set a $275.00 target price on GE Aerospace and gave the stock an "outperform" rating in a report on Tuesday, June 3rd. Wells Fargo & Company upped their price target on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Finally, UBS Group increased their price objective on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research report 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's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $221.15.

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.