TruWealth Advisors LLC Takes Position in GE Aerospace (NYSE:GE)

TruWealth Advisors LLC purchased a new stake in GE Aerospace (NYSE:GE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,001 shares of the company's stock, valued at approximately $200,000.

A number of other institutional investors have also recently modified their holdings of GE. Norges Bank acquired a new stake in GE Aerospace in the 4th quarter valued at about $2,375,439,000. GAMMA Investing LLC raised its position in shares of GE Aerospace by 23,611.7% during the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock worth $1,013,959,000 after purchasing an additional 5,044,632 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of GE Aerospace by 87.7% during the 4th quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock worth $597,412,000 after purchasing an additional 1,673,365 shares during the last quarter. Invesco Ltd. lifted its stake in GE Aerospace by 14.4% in the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock valued at $1,591,970,000 after buying an additional 1,204,910 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in GE Aerospace during the 4th quarter valued at $194,208,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GE shares. 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 objective on the stock. Wells Fargo & Company upped their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. UBS Group raised their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Royal Bank of Canada set a $275.00 price target on shares of GE Aerospace and gave the stock an "outperform" rating in a report on Tuesday. Finally, Citigroup reduced their price objective 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. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $221.15.

Insider Buying and Selling at GE Aerospace

In related news, SVP Mohamed Ali sold 1,602 shares of the business's stock in a transaction that occurred 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the completion of the sale, the vice president now directly owns 11,540 shares of the company's stock, valued at $2,270,264.20. This trade represents a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

GE Aerospace Trading Up 1.5%

Shares of GE stock traded up $3.79 on Friday, reaching $255.71. 5,792,957 shares of the stock were exchanged, compared to its average volume of 5,365,423. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The stock has a market cap of $272.69 billion, a P/E ratio of 42.69, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. The firm has a 50 day moving average of $208.91 and a two-hundred day moving average of $195.55. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $257.41.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.29 by $0.20. The company had revenue of $9.94 billion during 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%. On average, research analysts anticipate that GE Aerospace will post 5.4 EPS for the current 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.