KMG Fiduciary Partners LLC Acquires New Holdings in GE Aerospace (NYSE:GE)

KMG Fiduciary Partners LLC 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 13F filing with the Securities & Exchange Commission. The fund acquired 1,724 shares of the company's stock, valued at approximately $345,000.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in GE Aerospace by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company's stock valued at $14,980,297,000 after purchasing an additional 410,172 shares during the period. FMR LLC grew its holdings in GE Aerospace by 1.5% during the fourth 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 period. Geode Capital Management LLC grew its holdings in GE Aerospace by 2.3% during the fourth 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 during the period. Norges Bank acquired a new position in GE Aerospace during the fourth quarter valued at approximately $2,375,439,000. Finally, Northern Trust Corp grew its holdings in GE Aerospace by 5.8% during the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock valued at $1,675,717,000 after purchasing an additional 553,104 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

Insiders Place Their Bets

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the transaction, the senior vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the company's stock in a transaction 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 completion of the transaction, 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. Insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GE. Redburn Atlantic started coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price objective for the company. Citigroup reduced their price target on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a report on Thursday, April 10th. UBS Group upped their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Wells Fargo & Company upped their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Finally, Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $221.15.

GE Aerospace Stock Performance

Shares of GE stock opened at $255.71 on Monday. The company's fifty day simple moving average is $209.94 and its 200-day simple moving average is $196.34. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The firm has a market cap of $272.69 billion, a PE ratio of 42.69, a P/E/G ratio of 2.59 and a beta of 1.38. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $257.47.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.20. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. Equities research analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

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.

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