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Woodmont Investment Counsel LLC Purchases New Shares in GE Aerospace (NYSE:GE)

GE Aerospace logo with Aerospace background

Woodmont Investment Counsel LLC purchased a new stake in GE Aerospace (NYSE:GE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,178 shares of the company's stock, valued at approximately $236,000.

Several other hedge funds have also recently bought and sold shares of GE. Truvestments Capital LLC raised its position in GE Aerospace by 26.2% in the fourth quarter. Truvestments Capital LLC now owns 236 shares of the company's stock worth $39,000 after acquiring an additional 49 shares during the period. Ritter Daniher Financial Advisory LLC DE grew its position in shares of GE Aerospace by 17.6% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company's stock valued at $56,000 after acquiring an additional 50 shares during the period. Ballast Advisors LLC grew its position in shares of GE Aerospace by 2.5% during the 4th quarter. Ballast Advisors LLC now owns 2,093 shares of the company's stock valued at $349,000 after acquiring an additional 51 shares during the period. Blue Barn Wealth LLC increased its stake in shares of GE Aerospace by 3.8% during the 4th quarter. Blue Barn Wealth LLC now owns 1,466 shares of the company's stock worth $245,000 after purchasing an additional 54 shares during the last quarter. Finally, First Heartland Consultants Inc. raised its holdings in shares of GE Aerospace by 1.2% in the 4th quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company's stock worth $789,000 after purchasing an additional 54 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GE has been the topic of a number of recent research reports. Wells Fargo & Company upped their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Royal Bank Of Canada set a $275.00 price target on GE Aerospace and gave the company an "outperform" rating in a research report on Tuesday, June 3rd. Citigroup cut their target price on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, UBS Group lifted their target price on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Two equities research 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 $221.15.

Read Our Latest Stock Analysis on GE Aerospace

GE Aerospace Trading Up 0.4%

GE Aerospace stock traded up $1.11 during mid-day trading on Wednesday, hitting $249.86. The company's stock had a trading volume of 5,196,781 shares, compared to its average volume of 5,389,296. The business has a 50 day moving average price of $224.44 and a 200-day moving average price of $201.31. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.08 and a quick ratio of 0.77. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $257.47. The stock has a market cap of $266.45 billion, a price-to-earnings ratio of 38.86, a price-to-earnings-growth ratio of 3.00 and a beta of 1.38.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.29 by $0.20. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. As a group, analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction dated Tuesday, April 29th. The shares were 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 in the company, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the firm'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 completion of the sale, the vice president now directly owns 11,540 shares in the company, valued at $2,270,264.20. The trade was a 26.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

About GE Aerospace

(Free Report)

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.

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Institutional Ownership by Quarter for GE Aerospace (NYSE:GE)

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