Sweeney & Michel LLC Buys New Position in GE Aerospace (NYSE:GE)

Sweeney & Michel LLC bought a new position in shares of GE Aerospace (NYSE:GE - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,378 shares of the company's stock, valued at approximately $276,000.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of GE Aerospace by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company's stock worth $14,980,297,000 after buying an additional 410,172 shares during the last quarter. FMR LLC increased its position in shares of GE Aerospace by 1.5% during the fourth quarter. FMR LLC now owns 66,823,968 shares of the company's stock valued at $11,145,570,000 after purchasing an additional 965,012 shares during the period. Geode Capital Management LLC increased its position in shares of GE Aerospace by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company's stock valued at $3,846,587,000 after purchasing an additional 529,457 shares during the period. Norges Bank bought a new stake in shares of GE Aerospace during the fourth quarter valued at approximately $2,375,439,000. Finally, Northern Trust Corp increased its position in shares of GE Aerospace by 5.8% during the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock valued at $1,675,717,000 after purchasing an additional 553,104 shares during the period. Hedge funds and other institutional investors own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Redburn Atlantic initiated 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. Citigroup lowered their price target on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company upped their price target on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Finally, Royal Bank of Canada upped their price target on GE Aerospace from $220.00 to $275.00 and gave the company an "outperform" rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $221.15.

GE Aerospace Price Performance

Shares of GE stock traded up $1.79 during trading hours on Thursday, hitting $252.67. 1,541,416 shares of the company's stock were exchanged, compared to its average volume of 5,349,036. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $253.06. The stock has a market cap of $269.44 billion, a price-to-earnings ratio of 42.18, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. The stock's 50-day moving average is $207.88 and its 200-day moving average is $195.04.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

Insider Activity at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the 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 transaction, the vice president now directly owns 11,540 shares in the company, valued at $2,270,264.20. The trade was a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by company 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.