Woodline Partners LP Buys New Shares in GE Aerospace (NYSE:GE)

Woodline Partners LP bought a new position in shares of GE Aerospace (NYSE:GE - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 53,901 shares of the company's stock, valued at approximately $8,990,000.

Other large investors also recently bought and sold shares of the company. Chung Wu Investment Group LLC purchased a new stake in shares of GE Aerospace during the fourth quarter worth approximately $795,000. National Bank of Canada FI lifted its stake in GE Aerospace by 2.9% in the fourth quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock worth $177,535,000 after acquiring an additional 29,844 shares during the last quarter. National Pension Service grew its holdings in GE Aerospace by 1.7% during the 4th quarter. National Pension Service now owns 2,254,637 shares of the company's stock worth $376,051,000 after acquiring an additional 37,884 shares in the last quarter. FourThought Financial Partners LLC purchased a new stake in shares of GE Aerospace in the 4th quarter valued at approximately $507,000. Finally, Invesco Ltd. increased its position in shares of 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 purchasing an additional 1,204,910 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

Insider Buying and Selling at GE Aerospace

In related news, 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 transaction of $321,473.34. Following the completion of the sale, the senior vice president now directly owns 8,805 shares of the company's stock, valued at $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the business's stock in a transaction 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 in the company, valued at $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. 0.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GE. Citigroup lowered their target price on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. upped their price objective on GE Aerospace from $190.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Royal Bank of Canada reissued an "outperform" rating and set a $220.00 target price on shares of GE Aerospace in a research report on Wednesday, April 23rd. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday. Finally, 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. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $216.92.

GE Aerospace Price Performance

Shares of NYSE GE opened at $230.16 on Friday. The stock has a market cap of $245.44 billion, a P/E ratio of 38.42, a P/E/G ratio of 2.59 and a beta of 1.31. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $237.30. The stock has a 50 day moving average of $201.12 and a two-hundred day moving average of $191.16. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating analysts' consensus estimates of $1.29 by $0.20. The business had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. On average, research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.