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

Sagace Wealth Management LLC bought a new stake in GE Aerospace (NYSE:GE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,124 shares of the company's stock, valued at approximately $225,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. New Age Alpha Advisors LLC lifted its stake in shares of 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 buying an additional 84 shares during the period. Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of GE Aerospace during the fourth quarter worth $28,000. Putney Financial Group LLC purchased a new position in shares of GE Aerospace during the fourth quarter worth $28,000. CBIZ Investment Advisory Services LLC purchased a new position in shares of GE Aerospace during the fourth quarter worth $29,000. Finally, Picton Mahoney Asset Management raised its holdings in shares of GE Aerospace by 62.4% during the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the company's stock worth $30,000 after purchasing an additional 68 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GE has been the subject of several recent research reports. Wells Fargo & Company raised their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Redburn Atlantic initiated coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price for the company. Royal Bank of Canada set a $275.00 target price on shares of GE Aerospace and gave the stock an "outperform" rating in a report on Tuesday, June 3rd. UBS Group raised their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Finally, Citigroup reduced their target price on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $221.15.

Insider Buying and Selling at GE Aerospace

In other 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 value of $807,379.92. Following the sale, the vice president now directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of the sale, the senior vice president now directly owns 8,805 shares in the company, 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. 0.21% of the stock is currently owned by company insiders.

GE Aerospace Price Performance

GE traded down $3.92 on Friday, reaching $236.07. 7,408,374 shares of the company's stock were exchanged, compared to its average volume of 5,424,079. The stock has a market cap of $251.74 billion, a PE ratio of 39.41, a P/E/G ratio of 2.59 and a beta of 1.38. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $257.47. The stock's fifty day moving average price is $216.42 and its 200-day moving average price is $198.36. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

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