Mirador Capital Partners LP Purchases New Position in GE Aerospace (NYSE:GE)

Mirador Capital Partners LP purchased a new stake in shares of GE Aerospace (NYSE:GE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,615 shares of the company's stock, valued at approximately $323,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in GE Aerospace during the fourth quarter valued at approximately $2,375,439,000. GAMMA Investing LLC raised its position in GE Aerospace by 23,611.7% during the first quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock valued at $1,013,959,000 after acquiring an additional 5,044,632 shares in the last quarter. Janus Henderson Group PLC grew its position in GE Aerospace by 87.7% during the fourth quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock valued at $597,412,000 after buying an additional 1,673,365 shares during the period. Invesco Ltd. boosted its position in GE Aerospace by 14.4% during the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after purchasing an additional 1,204,910 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in GE Aerospace during the fourth quarter worth $194,208,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Royal Bank of Canada increased their price target on GE Aerospace from $220.00 to $275.00 and gave the company an "outperform" rating in a report on Tuesday. Wells Fargo & Company lifted their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Redburn Atlantic began coverage on GE Aerospace in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price on the stock. Finally, UBS Group increased their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $221.15.

GE Aerospace Price Performance

Shares of GE Aerospace stock traded up $1.41 during trading on Tuesday, hitting $248.89. The stock had a trading volume of 6,450,597 shares, compared to its average volume of 5,360,393. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $250.37. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The business has a fifty day moving average of $206.00 and a two-hundred day moving average of $194.27. The firm has a market cap of $265.41 billion, a P/E ratio of 41.55, a PEG ratio of 2.59 and a beta of 1.31.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly 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 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. On average, sell-side analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Mohamed Ali sold 1,602 shares of the business's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction that occurred 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 sale, the vice president now directly owns 11,540 shares in the company, valued at $2,270,264.20. The trade was 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.

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.