MFG Wealth Management Inc. Sells 6,063 Shares of GE Aerospace (NYSE:GE)

MFG Wealth Management Inc. lowered its stake in GE Aerospace (NYSE:GE - Free Report) by 33.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,077 shares of the company's stock after selling 6,063 shares during the period. GE Aerospace makes up 2.3% of MFG Wealth Management Inc.'s holdings, making the stock its 13th biggest holding. MFG Wealth Management Inc.'s holdings in GE Aerospace were worth $2,417,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in GE Aerospace by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company's stock worth $14,980,297,000 after acquiring an additional 410,172 shares in the last quarter. FMR LLC grew its holdings in shares of 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 position 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 worth $3,846,587,000 after purchasing an additional 529,457 shares in the last quarter. Norges Bank acquired a new position in GE Aerospace during the 4th quarter worth approximately $2,375,439,000. Finally, Northern Trust Corp lifted its stake in GE Aerospace by 5.8% in the 4th 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 last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Price Performance

NYSE:GE traded up $1.57 during trading hours on Thursday, hitting $251.47. 6,786,784 shares of the stock traded hands, compared to its average volume of 5,394,868. The company has a market cap of $268.16 billion, a price-to-earnings ratio of 39.11, a price-to-earnings-growth ratio of 3.00 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 50 day moving average price of $225.79 and a 200 day moving average price of $201.64. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90.

GE Aerospace (NYSE:GE - Get Free Report) last released 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 net margin of 17.63% and a return on equity of 29.15%. The company had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.06 billion. Sell-side analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Citigroup cut their target price on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Wells Fargo & Company lifted their price target on 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 price target on GE Aerospace and gave the company an "outperform" rating in a research report on Tuesday, June 3rd. Finally, UBS Group upped their price target 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 investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, GE Aerospace has a consensus rating of "Moderate Buy" and a consensus price target of $221.15.

Insider Transactions at GE Aerospace

In related news, SVP Mohamed Ali sold 1,602 shares of the 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 approximately $1,766,899.35. This represents a 15.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace 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 sale, the vice president now owns 11,540 shares of the company's stock, valued at approximately $2,270,264.20. This trade 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.

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.