Siemens Fonds Invest GmbH Boosts Stock Position in GE Aerospace (NYSE:GE)

Siemens Fonds Invest GmbH grew its holdings in GE Aerospace (NYSE:GE - Free Report) by 86.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,462 shares of the company's stock after purchasing an additional 25,303 shares during the period. Siemens Fonds Invest GmbH's holdings in GE Aerospace were worth $9,084,000 as of its most recent filing with the Securities & Exchange Commission.

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 shares of GE Aerospace in the fourth quarter valued at about $795,000. National Bank of Canada FI increased its holdings in shares of GE Aerospace by 2.9% in the 4th quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock valued at $177,535,000 after acquiring an additional 29,844 shares during the period. National Pension Service increased its holdings in shares of GE Aerospace by 1.7% in the 4th quarter. National Pension Service now owns 2,254,637 shares of the company's stock valued at $376,051,000 after acquiring an additional 37,884 shares during the period. Sanibel Captiva Trust Company Inc. raised its position in shares of GE Aerospace by 28.4% in the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 25,808 shares of the company's stock worth $4,305,000 after acquiring an additional 5,710 shares in the last quarter. Finally, FourThought Financial Partners LLC purchased a new stake in shares of GE Aerospace during the 4th quarter worth $507,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Up 2.6%

Shares of GE stock opened at $229.05 on Friday. 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 has a fifty-two week low of $150.20 and a fifty-two week high of $230.97. The firm has a market capitalization of $244.26 billion, a PE ratio of 38.24, a P/E/G ratio of 2.59 and a beta of 1.31. The stock's 50-day simple moving average is $197.39 and its 200-day simple moving average is $189.08.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.29 by $0.20. The business had revenue of $9.94 billion during 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%. Equities analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

Wall Street Analyst Weigh In

GE has been the topic of several analyst reports. Citigroup cut their target price on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Northcoast Research raised shares of GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 price objective on the stock in a research report on Wednesday, April 9th. Bank of America boosted their price objective on shares of GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. 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 target price for the company. Finally, JPMorgan Chase & Co. lifted their price target on shares of GE Aerospace from $190.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $216.92.

Insiders Place Their Bets

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the business's stock in a transaction that occurred on 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 transaction, the vice president now directly owns 11,540 shares of the company's stock, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction that occurred on 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 sale, the senior vice president now owns 8,805 shares in the company, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Aerospace (NYSE:GE - Free Report).

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.