Simplicity Wealth LLC Acquires Shares of 2,770 GE Aerospace (NYSE:GE)

Simplicity Wealth LLC acquired a new stake in GE Aerospace (NYSE:GE - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,770 shares of the company's stock, valued at approximately $555,000.

Several other large investors have also added to or reduced their stakes in the business. New Age Alpha Advisors LLC increased its holdings in 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 acquiring an additional 84 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of GE Aerospace during the 4th quarter valued at about $28,000. Putney Financial Group LLC bought a new stake in shares of GE Aerospace during the 4th quarter valued at $28,000. CBIZ Investment Advisory Services LLC purchased a new position in shares of GE Aerospace in the 4th 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 in the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Stock Performance

GE Aerospace stock traded down $3.69 during midday trading on Friday, hitting $236.30. 4,662,694 shares of the company were exchanged, compared to its average volume of 5,427,314. The business has a fifty day simple moving average of $215.08 and a two-hundred day simple moving average of $197.88. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The firm has a market capitalization of $251.99 billion, a PE ratio of 39.47, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. 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 released its quarterly earnings data 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. The company had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. On average, sell-side analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. UBS Group increased their price objective 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. Wells Fargo & Company increased their target price on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Redburn Atlantic started coverage on GE Aerospace in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price on the stock. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Finally, 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. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $221.15.

Insider Buying and Selling

In other news, 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 sale, the senior vice president now owns 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the firm'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 transaction of $807,379.92. Following the completion of the transaction, the vice president now directly 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. 0.21% of the stock is currently owned by insiders.

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.