Welch Group LLC Invests $290,000 in GE Aerospace (NYSE:GE)

Welch Group LLC acquired a new stake in GE Aerospace (NYSE:GE - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,453 shares of the company's stock, valued at approximately $290,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Parallel Advisors LLC grew its stake in GE Aerospace by 1.9% during the first quarter. Parallel Advisors LLC now owns 16,692 shares of the company's stock worth $3,341,000 after buying an additional 316 shares in the last quarter. First County Bank CT acquired a new position in shares of GE Aerospace during the first quarter worth $211,000. GAMMA Investing LLC lifted its holdings in 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 buying an additional 5,044,632 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO acquired a new position in GE Aerospace in the first quarter valued at approximately $1,229,000. Finally, AdvisorNet Financial Inc lifted its stake in GE Aerospace by 4.9% in the first quarter. AdvisorNet Financial Inc now owns 17,013 shares of the company's stock valued at $3,405,000 after buying an additional 790 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, 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 transaction, the vice president now directly owns 11,540 shares of the company's stock, valued at $2,270,264.20. This represents a 26.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were 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. 0.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on GE shares. Royal Bank of Canada restated an "outperform" rating and issued a $220.00 price target on shares of GE Aerospace in a report on Wednesday, April 23rd. Redburn Atlantic started 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. 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. Wells Fargo & Company boosted their target price 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, UBS Group boosted their target price on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, GE Aerospace currently has a consensus rating of "Moderate Buy" and an average price target of $216.92.

GE Aerospace Stock Up 0.7%

GE traded up $1.68 during midday trading on Friday, reaching $245.84. 9,141,246 shares of the company were exchanged, compared to its average volume of 5,381,047. The company's fifty day moving average price is $205.20 and its 200 day moving average price is $193.60. GE Aerospace has a one year low of $150.20 and a one year high of $246.86. The company has a market cap of $262.16 billion, a price-to-earnings ratio of 41.04, a price-to-earnings-growth ratio of 2.59 and a beta of 1.31. 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 (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) 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, analysts expect 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.