Sunbeam Capital Management LLC Acquires Shares of 2,428 GE Aerospace (NYSE:GE)

Sunbeam Capital Management LLC purchased a new position in shares of GE Aerospace (NYSE:GE - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,428 shares of the company's stock, valued at approximately $405,000.

Several other institutional investors and hedge funds have also made changes to their positions in GE. Janney Montgomery Scott LLC boosted its position in shares of GE Aerospace by 6.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 159,491 shares of the company's stock worth $26,602,000 after buying an additional 9,215 shares in the last quarter. Red Door Wealth Management LLC lifted its holdings in GE Aerospace by 4.0% in the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the company's stock valued at $241,000 after purchasing an additional 56 shares in the last quarter. Secure Asset Management LLC lifted its holdings in GE Aerospace by 28.1% in the 4th quarter. Secure Asset Management LLC now owns 6,402 shares of the company's stock valued at $1,068,000 after purchasing an additional 1,406 shares in the last quarter. Brighton Jones LLC lifted its holdings in GE Aerospace by 25.3% in the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock valued at $2,003,000 after purchasing an additional 2,421 shares in the last quarter. Finally, Cornerstone Wealth Management LLC lifted its holdings in GE Aerospace by 1.5% in the 4th quarter. Cornerstone Wealth Management LLC now owns 9,658 shares of the company's stock valued at $1,611,000 after purchasing an additional 140 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Trading Up 0.1%

Shares of GE stock traded up $0.20 during trading hours on Thursday, hitting $243.87. 3,016,427 shares of the company were exchanged, compared to its average volume of 5,786,275. The firm has a market cap of $260.06 billion, a PE ratio of 40.71, a PEG ratio of 2.59 and a beta of 1.31. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $246.00. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The firm has a fifty day moving average of $203.85 and a 200 day moving average of $192.75.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.29 by $0.20. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. Analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction that occurred 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 completion of 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 position. The transaction 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 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 sale, the vice president now directly owns 11,540 shares of the company's stock, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on GE shares. 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 on the stock. Citigroup reduced 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. Royal Bank of Canada restated an "outperform" rating and issued a $220.00 target price on shares of GE Aerospace in a report on Wednesday, April 23rd. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Finally, Wells Fargo & Company upped their target price 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. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $216.92.

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.