Simon Quick Advisors LLC Boosts Holdings in GE Aerospace (NYSE:GE)

Simon Quick Advisors LLC raised its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 24.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,227 shares of the company's stock after purchasing an additional 1,421 shares during the quarter. Simon Quick Advisors LLC's holdings in GE Aerospace were worth $1,446,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Magnolia Private Wealth LLC purchased a new stake in shares of GE Aerospace in the 1st quarter valued at $234,000. Visionary Horizons LLC purchased a new stake in GE Aerospace during the first quarter worth $594,000. Investment Partners Asset Management Inc. boosted its holdings in GE Aerospace by 19.5% during the first quarter. Investment Partners Asset Management Inc. now owns 3,288 shares of the company's stock worth $658,000 after buying an additional 536 shares in the last quarter. Transform Wealth LLC boosted its holdings in GE Aerospace by 1.2% during the first quarter. Transform Wealth LLC now owns 51,620 shares of the company's stock worth $10,350,000 after buying an additional 619 shares in the last quarter. Finally, Donaldson Capital Management LLC boosted its holdings in GE Aerospace by 909.2% during the first quarter. Donaldson Capital Management LLC now owns 18,377 shares of the company's stock worth $3,678,000 after buying an additional 16,556 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

Insider Activity

In other news, SVP Mohamed Ali sold 1,602 shares of the firm'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 value 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 approximately $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction that occurred on Thursday, April 24th. The stock was 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 of the company's stock, valued at $2,270,264.20. This represents a 26.23% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

GE Aerospace Trading Down 2.4%

Shares of GE traded down $5.97 during trading on Thursday, reaching $239.55. 8,923,649 shares of the company traded hands, compared to its average volume of 5,430,012. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $257.47. The stock has a market cap of $255.45 billion, a PE ratio of 39.99, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. The stock has a 50-day simple moving average of $213.64 and a 200-day simple moving average of $197.47. 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 (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $9.06 billion. On average, analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

Analysts Set New Price Targets

GE has been the topic of a number of recent analyst reports. 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 price target on the stock. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. 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 report on Wednesday, April 23rd. Wells Fargo & Company increased their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Finally, Royal Bank of Canada set a $275.00 price objective on shares of GE Aerospace and gave the company an "outperform" rating in a report on Tuesday, June 3rd. Two 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, the stock currently has an average rating of "Moderate Buy" and an average price target of $221.15.

About GE Aerospace

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.