Rafferty Asset Management LLC Grows Stock Holdings in GE Aerospace (NYSE:GE)

Rafferty Asset Management LLC grew its position in shares of GE Aerospace (NYSE:GE - Free Report) by 9.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 245,381 shares of the company's stock after buying an additional 22,085 shares during the quarter. Rafferty Asset Management LLC's holdings in GE Aerospace were worth $40,927,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. New Age Alpha Advisors LLC boosted its holdings in GE Aerospace by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after purchasing an additional 84 shares during the last quarter. Hager Investment Management Services LLC purchased a new stake in GE Aerospace in the fourth quarter worth approximately $27,000. Sumitomo Mitsui Financial Group Inc. purchased a new stake in GE Aerospace in the fourth quarter worth approximately $28,000. Sugar Maple Asset Management LLC purchased a new stake in GE Aerospace in the fourth quarter worth approximately $29,000. Finally, CBIZ Investment Advisory Services LLC purchased a new stake in GE Aerospace in the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

Insider Buying and Selling at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction on Tuesday, April 29th. The shares were 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 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction on Thursday, April 24th. The stock was 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. The trade was 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 insiders.

GE Aerospace Price Performance

Shares of GE traded up $2.48 during trading hours on Friday, reaching $231.86. 4,642,569 shares of the stock traded hands, compared to its average volume of 5,352,631. 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 has a 52-week low of $150.20 and a 52-week high of $232.32. The company's 50-day moving average price is $198.19 and its two-hundred day moving average price is $189.48. The company has a market cap of $247.25 billion, a P/E ratio of 38.71, a price-to-earnings-growth ratio of 2.59 and a beta of 1.31.

GE Aerospace (NYSE:GE - Get Free Report) last released its 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. The firm had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. On average, analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada restated an "outperform" rating and issued a $220.00 target price on shares of GE Aerospace in a report on Wednesday, April 23rd. Northcoast Research upgraded shares of GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 target price on the stock in a report on Wednesday, April 9th. Bank of America raised their target price on shares of GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, January 27th. UBS Group increased their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Finally, Citigroup decreased their price target on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.