Texas Bank & Trust Co Buys New Position in GE Aerospace (NYSE:GE)

Texas Bank & Trust Co purchased a new position in shares of GE Aerospace (NYSE:GE - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,309 shares of the company's stock, valued at approximately $385,000.

Several other hedge funds have also modified their holdings of the stock. New Age Alpha Advisors LLC raised its position in GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after purchasing an additional 84 shares in the last quarter. Hager Investment Management Services LLC acquired a new stake in shares of GE Aerospace during the 4th quarter worth about $27,000. Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of GE Aerospace during the 4th quarter worth about $28,000. Sugar Maple Asset Management LLC acquired a new stake in shares of GE Aerospace during the 4th quarter worth about $29,000. Finally, CBIZ Investment Advisory Services LLC acquired a new stake in shares of GE Aerospace during the 4th quarter worth about $29,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at GE Aerospace

In related news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace 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 completion of the transaction, the senior vice president now directly owns 8,805 shares of the company's stock, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the transaction, the vice president now directly owns 11,540 shares of the company's stock, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

GE has been the topic of several research analyst reports. Wells Fargo & Company raised their target price on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. UBS Group raised their target price on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday. Royal Bank of Canada restated an "outperform" rating and set a $220.00 price target on shares of GE Aerospace in a research note on Wednesday, April 23rd. Finally, Bank of America raised their price target on GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $216.92.

GE Aerospace Stock Performance

Shares of GE stock traded down $1.70 during midday trading on Wednesday, hitting $233.56. The company had a trading volume of 4,628,911 shares, compared to its average volume of 5,340,918. The company's 50 day simple moving average is $199.84 and its 200 day simple moving average is $190.46. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $237.26. The stock has a market cap of $249.07 billion, a price-to-earnings ratio of 38.99, a PEG ratio of 2.59 and a beta of 1.31. 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 (NYSE:GE - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.20. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. Research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

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.