Palumbo Wealth Management LLC Invests $292,000 in GE Aerospace (NYSE:GE)

Palumbo Wealth Management LLC purchased a new position in shares of GE Aerospace (NYSE:GE - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,461 shares of the company's stock, valued at approximately $292,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Age Alpha Advisors LLC lifted its holdings in shares of GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after buying an additional 84 shares during the period. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of GE Aerospace in the 4th quarter valued at about $28,000. Putney Financial Group LLC acquired a new position in GE Aerospace in the fourth quarter valued at approximately $28,000. CBIZ Investment Advisory Services LLC acquired a new position in GE Aerospace in the fourth quarter valued at approximately $29,000. Finally, Copia Wealth Management lifted its holdings in GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after acquiring an additional 142 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Price Performance

NYSE:GE traded up $1.11 during trading hours on Wednesday, reaching $249.86. 5,196,781 shares of the company were exchanged, compared to its average volume of 5,389,296. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90. The stock's 50-day moving average is $225.79 and its 200-day moving average is $201.64. The firm has a market cap of $266.45 billion, a PE ratio of 38.86, a price-to-earnings-growth ratio of 3.00 and a beta of 1.38. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $257.47.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating 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 net margin of 17.63% and a return on equity of 29.15%. On average, sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GE shares. Wells Fargo & Company boosted their price target on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Citigroup decreased 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. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Royal Bank Of Canada set a $275.00 price objective on shares of GE Aerospace and gave the stock an "outperform" rating in a research report on Tuesday, June 3rd. Finally, UBS Group upped their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the stock 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 issued a buy rating to the stock. According to data from MarketBeat, GE Aerospace currently has a consensus rating of "Moderate Buy" and an average target price of $221.15.

Insider Activity

In other GE Aerospace 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 in the company, valued at $2,270,264.20. The trade was a 26.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Mohamed Ali sold 1,602 shares of the business's stock in a transaction that occurred 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 transaction, the senior vice president now owns 8,805 shares of the company's stock, valued at $1,766,899.35. This trade 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 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.