Trueblood Wealth Management LLC Takes $234,000 Position in GE Aerospace (NYSE:GE)

Trueblood Wealth Management LLC acquired a new stake in shares of GE Aerospace (NYSE:GE - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,168 shares of the company's stock, valued at approximately $234,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GE. Brighton Jones LLC increased its holdings in shares of GE Aerospace by 25.3% in the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock worth $2,003,000 after purchasing an additional 2,421 shares in the last quarter. Revolve Wealth Partners LLC raised its position in GE Aerospace by 7.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock worth $375,000 after buying an additional 150 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in GE Aerospace in the 4th quarter worth about $228,000. Stonebridge Financial Group LLC purchased a new position in GE Aerospace in the 4th quarter worth about $169,000. Finally, Sovran Advisors LLC purchased a new position in GE Aerospace in the 4th quarter worth about $931,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

Insiders Place Their Bets

In related news, 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 transaction of $807,379.92. Following the transaction, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the sale, the senior vice president now owns 8,805 shares in the company, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Citigroup decreased their target price on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. UBS Group upped their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Royal Bank of Canada set a $275.00 price target on shares of GE Aerospace and gave the company an "outperform" rating in a research report on Tuesday, June 3rd. Wells Fargo & Company boosted their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Finally, Redburn Atlantic assumed coverage on GE Aerospace in a research note on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, GE Aerospace currently has a consensus rating of "Moderate Buy" and an average target price of $221.15.

GE Aerospace Price Performance

Shares of GE stock traded down $5.97 on Thursday, hitting $239.55. 8,923,649 shares of the stock traded hands, compared to its average volume of 5,430,012. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $257.47. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The firm has a market cap of $255.45 billion, a price-to-earnings ratio of 39.99, a PEG ratio of 2.59 and a beta of 1.38. The firm has a 50 day simple moving average of $213.64 and a two-hundred day simple moving average of $197.47.

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 for the quarter, topping 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 business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. As a group, equities research analysts predict 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.