GE Aerospace (NYSE:GE) Shares Sold by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC cut its stake in GE Aerospace (NYSE:GE) by 1.9% in the first quarter, HoldingsChannel reports. The firm owned 27,215 shares of the company’s stock after selling 537 shares during the quarter. Greenwood Capital Associates LLC’s holdings in GE Aerospace were worth $5,447,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Age Alpha Advisors LLC grew its holdings in GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock worth $25,000 after acquiring an additional 84 shares during the period. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of GE Aerospace during the fourth quarter valued at approximately $28,000. Putney Financial Group LLC purchased a new stake in GE Aerospace in the fourth quarter valued at approximately $28,000. CBIZ Investment Advisory Services LLC purchased a new position in shares of GE Aerospace in the 4th quarter worth about $29,000. Finally, Picton Mahoney Asset Management lifted its holdings in shares of GE Aerospace by 62.4% during the 4th quarter. Picton Mahoney Asset Management now owns 177 shares of the company’s stock valued at $30,000 after acquiring an additional 68 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Buying and Selling

In related news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace 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 transaction, the senior vice president now owns 8,805 shares of the company’s stock, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 transaction of $807,379.92. Following the completion of the transaction, the vice president now 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 disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

GE Aerospace Stock Up 1.4%

GE opened at $245.38 on Thursday. The stock’s 50 day moving average price is $213.64 and its 200 day moving average price is $197.47. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The stock has a market cap of $261.67 billion, a P/E ratio of 40.97, a P/E/G ratio of 2.59 and a beta of 1.38. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $257.47.

GE Aerospace (NYSE:GE) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.20. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. As a group, research analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on GE. Redburn Atlantic began coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective for the company. Royal Bank of Canada set a $275.00 target price on shares of GE Aerospace and gave the company an “outperform” rating in a research note on Tuesday, June 3rd. Wells Fargo & Company lifted their price target on GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. UBS Group upped their price objective on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Finally, Northcoast Research lowered GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $221.15.

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.