Sagespring Wealth Partners LLC Purchases 3,169 Shares of GE Aerospace (NYSE:GE)

Sagespring Wealth Partners LLC grew its position in shares of GE Aerospace (NYSE:GE - Free Report) by 32.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,857 shares of the company's stock after purchasing an additional 3,169 shares during the period. Sagespring Wealth Partners LLC's holdings in GE Aerospace were worth $2,573,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GE. Sendero Wealth Management LLC raised its position in shares of GE Aerospace by 526.6% in the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock worth $3,004,000 after buying an additional 12,613 shares during the period. Chung Wu Investment Group LLC purchased a new position in shares of GE Aerospace in the 4th quarter worth about $795,000. National Bank of Canada FI raised its holdings in shares of GE Aerospace by 2.9% in the 4th quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock worth $177,535,000 after purchasing an additional 29,844 shares during the period. National Pension Service lifted its stake in shares of GE Aerospace by 1.7% in the 4th quarter. National Pension Service now owns 2,254,637 shares of the company's stock valued at $376,051,000 after purchasing an additional 37,884 shares in the last quarter. Finally, FourThought Financial Partners LLC purchased a new stake in shares of GE Aerospace during the 4th quarter worth about $507,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Stock Performance

GE Aerospace stock traded up $3.02 during midday trading on Friday, reaching $238.91. 9,064,307 shares of the stock traded hands, compared to its average volume of 5,429,768. The firm has a fifty day moving average price of $220.79 and a two-hundred day moving average price of $199.75. The firm has a market cap of $254.78 billion, a price-to-earnings ratio of 37.16, a PEG ratio of 2.85 and a beta of 1.38. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $257.47.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.20. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. On average, equities research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on GE. Citigroup cut their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. 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. UBS Group upped their target price on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company raised their price target 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. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $221.15.

Insider Activity

In related news, VP Robert M. Giglietti sold 4,104 shares of the company'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 completion of the sale, the vice president now owns 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of GE Aerospace 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. 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 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.