Sunbeam Capital Management LLC purchased a new stake in shares of GE Aerospace (NYSE:GE - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 2,428 shares of the company's stock, valued at approximately $405,000.
Other institutional investors have also made changes to their positions in the company. New Age Alpha Advisors LLC lifted 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 purchasing an additional 84 shares during the last quarter. Hager Investment Management Services LLC acquired a new stake in GE Aerospace in the 4th quarter worth approximately $27,000. Sumitomo Mitsui Financial Group Inc. acquired a new stake in GE Aerospace in the 4th quarter worth approximately $28,000. Putney Financial Group LLC acquired a new stake in GE Aerospace in the 4th quarter worth approximately $28,000. Finally, CBIZ Investment Advisory Services LLC acquired a new stake in GE Aerospace in the 4th quarter worth approximately $29,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on GE. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Redburn Atlantic assumed coverage on GE Aerospace in a research report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price target on the stock. UBS Group lifted their price target on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $220.00 price target on shares of GE Aerospace in a research report on Wednesday, April 23rd. Finally, Bank of America lifted their price target on GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $216.92.
Check Out Our Latest Report on GE Aerospace
GE Aerospace Price Performance
GE Aerospace stock traded up $8.85 on Tuesday, reaching $241.64. The company's stock had a trading volume of 7,158,753 shares, compared to its average volume of 5,344,810. 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 company has a market cap of $257.68 billion, a price-to-earnings ratio of 40.34, a PEG ratio of 2.59 and a beta of 1.31. The business's fifty day moving average price is $202.30 and its 200 day moving average price is $192.06. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $242.47.
GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.20. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. Equities analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction on Tuesday, April 29th. The stock was 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 of the company's stock, valued at $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the company's 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 sale, 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.
About GE Aerospace
(
Free Report)
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.
Further Reading
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