Novem Group Makes New $572,000 Investment in GE Aerospace (NYSE:GE)

Novem Group acquired a new stake in shares of GE Aerospace (NYSE:GE - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,429 shares of the company's stock, valued at approximately $572,000.

A number of other hedge funds have also recently made changes to their positions in the business. New Age Alpha Advisors LLC boosted its holdings in GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after purchasing an additional 84 shares during the last quarter. Hager Investment Management Services LLC purchased a new position in GE Aerospace during the fourth quarter worth about $27,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in GE Aerospace during the fourth quarter worth about $28,000. Sugar Maple Asset Management LLC purchased a new position in GE Aerospace during the fourth quarter worth about $29,000. Finally, CBIZ Investment Advisory Services LLC purchased a new position in GE Aerospace during the fourth quarter worth about $29,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on GE shares. Royal Bank of Canada restated an "outperform" rating and set a $220.00 price target on shares of GE Aerospace in a report on Wednesday, April 23rd. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Wells Fargo & Company lifted their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Redburn Atlantic initiated coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price objective on the stock. Finally, Citigroup lowered their price objective 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. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $216.92.

Insider Activity

In related news, VP Robert M. Giglietti sold 4,104 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the business's stock in a transaction that occurred on 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 directly owns 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

GE Aerospace Stock Performance

Shares of NYSE GE traded up $2.59 during midday trading on Friday, hitting $232.86. The company's stock had a trading volume of 4,231,972 shares, compared to its average volume of 5,338,171. The stock has a fifty day moving average price of $201.76 and a 200 day moving average price of $191.56. GE Aerospace has a one year low of $150.20 and a one year high of $237.30. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $248.32 billion, a price-to-earnings ratio of 38.87, a P/E/G 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 (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.20. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. On average, research analysts forecast 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.