Sanibel Captiva Trust Company Inc. Boosts Stock Holdings in GE Aerospace (NYSE:GE)

Sanibel Captiva Trust Company Inc. boosted its stake in GE Aerospace (NYSE:GE - Free Report) by 21.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,409 shares of the company's stock after acquiring an additional 5,601 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in GE Aerospace were worth $6,287,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. New Age Alpha Advisors LLC grew its position in shares of GE Aerospace by 133.3% in the 4th 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. bought a new stake in GE Aerospace during the fourth quarter worth about $28,000. Putney Financial Group LLC purchased a new stake in GE Aerospace in the fourth quarter worth about $28,000. CBIZ Investment Advisory Services LLC purchased a new stake in GE Aerospace in the fourth quarter worth about $29,000. Finally, Picton Mahoney Asset Management lifted 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 valued at $30,000 after purchasing an additional 68 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Stock Performance

GE traded up $3.38 during mid-day trading on Wednesday, reaching $245.38. 6,935,788 shares of the company traded hands, compared to its average volume of 5,417,389. The company's fifty day moving average price is $212.06 and its 200-day moving average price is $197.14. The stock has a market capitalization of $261.67 billion, a P/E ratio of 40.97, a P/E/G ratio of 2.59 and a beta of 1.38. 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 52-week low of $150.20 and a 52-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, topping the consensus estimate of $1.29 by $0.20. The business had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. On average, sell-side analysts expect that GE Aerospace will post 5.4 EPS for the current year.

Insider Transactions at GE Aerospace

In other GE Aerospace 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 transaction, the vice president now directly owns 11,540 shares in the company, valued at $2,270,264.20. This represents a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $321,473.34. Following the transaction, the senior vice president now owns 8,805 shares in the company, valued at approximately $1,766,899.35. This trade 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 company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in 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 report on Tuesday, June 3rd. Wells Fargo & Company raised their price target on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. UBS Group upped their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Citigroup reduced their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Redburn Atlantic started coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $221.15.

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.