Tounjian Advisory Partners LLC Takes $5.89 Million Position in GE Aerospace (NYSE:GE)

Tounjian Advisory Partners LLC bought a new stake in GE Aerospace (NYSE:GE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 29,448 shares of the company's stock, valued at approximately $5,894,000. GE Aerospace makes up about 1.1% of Tounjian Advisory Partners LLC's portfolio, making the stock its 24th largest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 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 buying an additional 84 shares during the period. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of GE Aerospace during the fourth quarter worth about $28,000. Putney Financial Group LLC purchased a new position in shares of GE Aerospace in the fourth quarter valued at approximately $28,000. CBIZ Investment Advisory Services LLC purchased a new stake in shares of GE Aerospace during the fourth quarter worth $29,000. Finally, Picton Mahoney Asset Management increased its holdings in shares of GE Aerospace by 62.4% in 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 during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction on 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 in the company, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $321,473.34. Following the transaction, the senior vice president now directly 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 disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GE shares. UBS Group increased their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Citigroup cut their price target on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Royal Bank of Canada set a $275.00 price objective on GE Aerospace and gave the company an "outperform" rating in a research note on Tuesday, June 3rd. Redburn Atlantic began coverage on shares of GE Aerospace in a research note on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price target for the company. Finally, Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. 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, GE Aerospace presently has a consensus rating of "Moderate Buy" and a consensus target price of $221.15.

GE Aerospace Price Performance

Shares of NYSE:GE opened at $255.71 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. GE Aerospace has a one year low of $150.20 and a one year high of $257.47. The company has a 50-day simple moving average of $209.94 and a 200-day simple moving average of $196.34. The stock has a market capitalization of $272.69 billion, a price-to-earnings ratio of 42.69, a PEG ratio of 2.59 and a beta of 1.38.

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, 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 firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. On average, analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace 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.

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