Palumbo Wealth Management LLC Takes Position in GE Aerospace (NYSE:GE)

Palumbo Wealth Management LLC bought a new position in shares of GE Aerospace (NYSE:GE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,461 shares of the company's stock, valued at approximately $292,000.

Several other hedge funds also recently made changes to their positions in the business. New Age Alpha Advisors LLC raised its stake in GE Aerospace by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after purchasing an additional 84 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new position in GE Aerospace in the 4th quarter valued at about $28,000. Putney Financial Group LLC acquired a new position in shares of GE Aerospace in the 4th quarter valued at approximately $28,000. CBIZ Investment Advisory Services LLC bought a new stake in shares of GE Aerospace during the 4th quarter worth approximately $29,000. Finally, Copia Wealth Management lifted its holdings in shares of GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after acquiring an additional 142 shares during the period. 74.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GE shares. UBS Group lifted their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Citigroup lowered their price target on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Wells Fargo & Company raised their price objective on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Finally, Royal Bank Of Canada set a $275.00 target price on GE Aerospace and gave the company an "outperform" rating in a research report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $221.15.

Insider Transactions at GE Aerospace

In related news, SVP Mohamed Ali sold 1,602 shares of the business's 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 transaction, the senior vice president now owns 8,805 shares in the company, valued at $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the company's stock in a transaction 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 sale, the vice president now directly owns 11,540 shares in the company, valued at $2,270,264.20. This trade represents a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

GE Aerospace Trading Up 0.6%

Shares of NYSE:GE traded up $1.57 during midday trading on Thursday, hitting $251.47. 6,786,784 shares of the stock were exchanged, compared to its average volume of 5,400,459. The stock has a market capitalization of $268.16 billion, a price-to-earnings ratio of 39.11, a P/E/G ratio of 3.01 and a beta of 1.38. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. The business's 50-day moving average price is $227.18 and its 200 day moving average price is $202.19. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $257.47.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.29 by $0.20. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. Analysts predict that GE Aerospace will post 5.4 earnings per share for the current 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.