Woodline Partners LP Makes New Investment in GE Aerospace (NYSE:GE)

Woodline Partners LP acquired a new position in shares of GE Aerospace (NYSE:GE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 53,901 shares of the company's stock, valued at approximately $8,990,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Chung Wu Investment Group LLC bought a new stake in GE Aerospace during the 4th quarter worth $795,000. National Bank of Canada FI grew its position in GE Aerospace by 2.9% during the 4th 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 position 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 during the last quarter. FourThought Financial Partners LLC acquired a new position in GE Aerospace during the 4th quarter worth about $507,000. Finally, Invesco Ltd. lifted its holdings in GE Aerospace by 14.4% during the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after buying an additional 1,204,910 shares during the period. Institutional investors own 74.77% of the company's stock.

Insider Buying and Selling

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the company's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction dated 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 transaction, the senior vice president now owns 8,805 shares in the company, 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 corporate insiders.

GE Aerospace Stock Up 3.1%

GE stock traded up $7.29 during trading on Tuesday, reaching $240.08. 1,178,220 shares of the stock were exchanged, compared to its average volume of 5,321,762. The firm's 50 day moving average is $202.30 and its 200 day moving average is $192.06. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $240.24. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The firm has a market cap of $256.02 billion, a P/E ratio of 40.08, a price-to-earnings-growth ratio of 2.59 and a beta of 1.31.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.20. The firm 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%. As a group, research analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $220.00 target price on shares of GE Aerospace in a report on Wednesday, April 23rd. Wells Fargo & Company lifted their target price on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Citigroup cut their target price on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Redburn Atlantic assumed coverage on GE Aerospace in a report on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price on the stock. Finally, Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $216.92.

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.