Insight Wealth Strategies LLC Purchases New Position in GE Aerospace (NYSE:GE)

Insight Wealth Strategies LLC acquired a new stake in GE Aerospace (NYSE:GE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,094 shares of the company's stock, valued at approximately $219,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Marcum Wealth LLC increased its holdings in shares of GE Aerospace by 2.2% in the first quarter. Marcum Wealth LLC now owns 3,614 shares of the company's stock valued at $723,000 after purchasing an additional 79 shares during the last quarter. Global Wealth Strategies & Associates increased its stake in shares of GE Aerospace by 2,026.7% in the 1st quarter. Global Wealth Strategies & Associates now owns 319 shares of the company's stock worth $64,000 after acquiring an additional 304 shares during the last quarter. Neville Rodie & Shaw Inc. raised its holdings in shares of GE Aerospace by 0.6% during the 1st quarter. Neville Rodie & Shaw Inc. now owns 85,265 shares of the company's stock worth $17,066,000 after acquiring an additional 482 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of GE Aerospace by 22.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 5,132 shares of the company's stock valued at $1,027,000 after acquiring an additional 935 shares during the last quarter. Finally, M1 Capital Management LLC purchased a new stake in shares of GE Aerospace in the fourth quarter valued at about $760,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Up 0.7%

GE stock traded up $1.68 during midday trading on Friday, hitting $245.84. The company's stock had a trading volume of 9,141,246 shares, compared to its average volume of 5,381,044. The firm has a 50-day simple moving average of $204.52 and a 200-day simple moving average of $193.17. The firm has a market capitalization of $262.16 billion, a P/E ratio of 41.04, a PEG ratio of 2.59 and a beta of 1.31. 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 52-week low of $150.20 and a 52-week high of $246.84.

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. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. As a group, equities analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GE shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $220.00 target price on shares of GE Aerospace in a report on Wednesday, April 23rd. UBS Group increased their price objective on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Citigroup reduced their target price on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Redburn Atlantic began coverage on GE Aerospace in a research note on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price target on the stock. 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 research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $216.92.

Insider Transactions at GE Aerospace

In related news, SVP Mohamed Ali sold 1,602 shares of the business's stock in a transaction 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 completion of the transaction, the senior vice president now owns 8,805 shares in the company, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the sale, the vice president now 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. Corporate insiders own 0.21% of the company's stock.

GE Aerospace 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.