Portside Wealth Group LLC Purchases New Position in GE Aerospace (NYSE:GE)

Portside Wealth Group LLC acquired a new stake in GE Aerospace (NYSE:GE - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 1,078 shares of the company's stock, valued at approximately $216,000.

Other large investors have also added to or reduced their stakes in the company. Moss Adams Wealth Advisors LLC raised its position in GE Aerospace by 29.6% during the first quarter. Moss Adams Wealth Advisors LLC now owns 2,954 shares of the company's stock valued at $592,000 after purchasing an additional 675 shares in the last quarter. NewSquare Capital LLC boosted its stake in shares of GE Aerospace by 23.4% during the 1st quarter. NewSquare Capital LLC now owns 681 shares of the company's stock valued at $136,000 after purchasing an additional 129 shares in the last quarter. Courier Capital LLC boosted its position in GE Aerospace by 5.4% during the 1st quarter. Courier Capital LLC now owns 7,329 shares of the company's stock valued at $1,467,000 after acquiring an additional 376 shares in the last quarter. Wesbanco Bank Inc. grew its stake in GE Aerospace by 0.8% in the first quarter. Wesbanco Bank Inc. now owns 50,382 shares of the company's stock worth $10,084,000 after purchasing an additional 416 shares during the period. Finally, First Citizens Bank & Trust Co. increased its stake in shares of GE Aerospace by 1.9% in the 1st quarter. First Citizens Bank & Trust Co. now owns 12,303 shares of the company's stock worth $2,462,000 after acquiring an additional 232 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

Insiders Place Their Bets

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 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 through this link. Also, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction dated 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 owns 8,805 shares of the company's stock, valued at approximately $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. 0.21% of the stock is owned by company insiders.

GE Aerospace Price Performance

Shares of NYSE:GE traded down $5.97 on Thursday, reaching $239.55. The company's stock had a trading volume of 8,923,649 shares, compared to its average volume of 5,430,012. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $257.47. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The company has a 50-day simple moving average of $213.64 and a 200 day simple moving average of $197.47. The company has a market cap of $255.45 billion, a P/E ratio of 39.99, a PEG ratio of 2.59 and a beta of 1.38.

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

Wall Street Analyst Weigh In

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

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.