Novem Group Acquires New Shares in GE Aerospace (NYSE:GE)

Novem Group acquired a new position in shares of GE Aerospace (NYSE:GE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 3,429 shares of the company's stock, valued at approximately $572,000.

Several other large investors also recently bought and sold shares of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in GE Aerospace by 13.7% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 207,634 shares of the company's stock worth $34,631,000 after purchasing an additional 24,988 shares in the last quarter. Focus Partners Advisor Solutions LLC boosted its stake in shares of GE Aerospace by 52.4% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 15,613 shares of the company's stock valued at $2,604,000 after buying an additional 5,371 shares in the last quarter. First Heartland Consultants Inc. lifted its holdings in GE Aerospace by 1.2% in the fourth quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company's stock valued at $789,000 after acquiring an additional 54 shares during the period. Kolinsky Wealth Management LLC grew its position in GE Aerospace by 3.7% during the fourth quarter. Kolinsky Wealth Management LLC now owns 1,699 shares of the company's stock worth $283,000 after buying an additional 60 shares during the period. Finally, Continuum Advisory LLC lifted its position in shares of GE Aerospace by 6.9% during the 4th quarter. Continuum Advisory LLC now owns 1,060 shares of the company's stock valued at $177,000 after acquiring an additional 68 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

Insider Buying and Selling

In related news, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction 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. This represents a 26.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of GE Aerospace 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 completion of the sale, the senior vice president now directly owns 8,805 shares of the company's stock, valued at $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. Corporate insiders own 0.21% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on GE. UBS Group increased their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research 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. Royal Bank of Canada reaffirmed an "outperform" rating and set a $220.00 price objective on shares of GE Aerospace in a research report on Wednesday, April 23rd. Redburn Atlantic assumed coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 target price on the stock. Finally, Bank of America raised their price target on GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, January 27th. 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.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $216.92.

GE Aerospace Trading Up 1.1%

NYSE GE traded up $2.59 on Monday, hitting $232.86. 4,231,972 shares of the company were exchanged, compared to its average volume of 5,337,520. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $237.30. The company's 50 day moving average price is $201.76 and its 200-day moving average price is $191.72. 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 firm has a market capitalization of $248.32 billion, a P/E ratio of 38.87, a price-to-earnings-growth ratio of 2.59 and a beta of 1.31.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.20. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. Analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Company 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.