Magnolia Private Wealth LLC Purchases Shares of 1,167 GE Aerospace (NYSE:GE)

Magnolia Private Wealth LLC purchased a new position in GE Aerospace (NYSE:GE - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,167 shares of the company's stock, valued at approximately $234,000.

Several other institutional investors have also made changes to their positions in GE. Brighton Jones LLC grew its stake in GE Aerospace by 25.3% in the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock valued at $2,003,000 after purchasing an additional 2,421 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of GE Aerospace by 7.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock valued at $375,000 after buying an additional 150 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of GE Aerospace in the 4th quarter valued at approximately $228,000. Savant Capital LLC increased its holdings in GE Aerospace by 2.1% in the fourth quarter. Savant Capital LLC now owns 39,316 shares of the company's stock worth $6,558,000 after buying an additional 802 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. increased its holdings in GE Aerospace by 0.5% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 11,826 shares of the company's stock worth $1,972,000 after buying an additional 63 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

GE Aerospace Stock Performance

GE traded down $4.49 during trading on Thursday, hitting $241.03. The stock had a trading volume of 5,356,300 shares, compared to its average volume of 5,417,929. The firm has a market cap of $257.03 billion, a PE ratio of 40.24, a P/E/G ratio of 2.59 and a beta of 1.38. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $257.47. The company has a 50 day simple moving average of $213.64 and a 200-day simple moving average of $197.47.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $9.06 billion. Analysts expect that GE Aerospace will post 5.4 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Citigroup reduced their target price on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. UBS Group raised 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 lifted their price objective 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. Royal Bank of Canada set a $275.00 target price on shares of GE Aerospace and gave the stock an "outperform" rating in a research report on Tuesday, June 3rd. Finally, Redburn Atlantic began coverage on GE Aerospace in a report on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, GE Aerospace currently has an average rating of "Moderate Buy" and a consensus target price of $221.15.

Insider Buying and Selling at GE Aerospace

In other news, VP Robert M. Giglietti sold 4,104 shares of the business's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the transaction, the vice president now owns 11,540 shares in the company, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the sale, the senior vice president now directly owns 8,805 shares in the company, valued at approximately $1,766,899.35. This trade represents 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.

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.