Sagespring Wealth Partners LLC Increases Stock Position in GE Aerospace (NYSE:GE)

Sagespring Wealth Partners LLC raised its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 32.7% during the first 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 acquiring an additional 3,169 shares during the quarter. Sagespring Wealth Partners LLC's holdings in GE Aerospace were worth $2,573,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Sendero Wealth Management LLC boosted its stake in GE Aerospace by 526.6% during the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock valued at $3,004,000 after acquiring an additional 12,613 shares during the last quarter. Chung Wu Investment Group LLC bought a new position in GE Aerospace during the 4th quarter valued at $795,000. National Bank of Canada FI boosted its stake in GE Aerospace by 2.9% during the 4th quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock valued at $177,535,000 after acquiring an additional 29,844 shares during the last quarter. National Pension Service boosted its stake in GE Aerospace by 1.7% during the 4th quarter. National Pension Service now owns 2,254,637 shares of the company's stock valued at $376,051,000 after acquiring an additional 37,884 shares during the last quarter. Finally, FourThought Financial Partners LLC bought a new position in GE Aerospace during the 4th quarter valued at $507,000. 74.77% of the stock is currently owned by institutional investors.

Insider Activity at GE Aerospace

In related news, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction dated 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 transaction, the vice president now owns 11,540 shares in the company, valued at $2,270,264.20. This represents a 26.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 transaction of $321,473.34. Following the completion of the transaction, the senior vice president now owns 8,805 shares of the company's stock, valued at $1,766,899.35. This represents a 15.39% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

GE Aerospace Stock Down 0.1%

GE stock opened at $236.38 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $257.47. The firm's 50-day simple moving average is $217.77 and its 200 day simple moving average is $198.86. The stock has a market cap of $252.07 billion, a PE ratio of 39.46, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on GE. UBS Group increased 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. 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. Citigroup dropped their target price 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. Wells Fargo & Company increased 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. Finally, Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, GE Aerospace currently has a consensus rating of "Moderate Buy" and an average price target 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.

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