2,309 Shares in GE Aerospace (NYSE:GE) Acquired by Texas Bank & Trust Co

Texas Bank & Trust Co bought a new position in shares of GE Aerospace (NYSE:GE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,309 shares of the company’s stock, valued at approximately $385,000.

Several other institutional investors have also recently added to or reduced their stakes in GE. Carnegie Investment Counsel lifted its stake in GE Aerospace by 12.0% during the fourth quarter. Carnegie Investment Counsel now owns 3,857 shares of the company’s stock worth $643,000 after purchasing an additional 413 shares during the last quarter. Procyon Advisors LLC increased its position in GE Aerospace by 14.3% during the fourth quarter. Procyon Advisors LLC now owns 2,251 shares of the company’s stock worth $375,000 after buying an additional 281 shares during the period. Merit Financial Group LLC increased its position in GE Aerospace by 16.4% during the fourth quarter. Merit Financial Group LLC now owns 30,427 shares of the company’s stock worth $5,075,000 after buying an additional 4,298 shares during the period. Arkadios Wealth Advisors increased its position in GE Aerospace by 6.4% during the fourth quarter. Arkadios Wealth Advisors now owns 6,411 shares of the company’s stock worth $1,069,000 after buying an additional 388 shares during the period. Finally, Trust Co. of Vermont increased its position in GE Aerospace by 13.1% during the fourth quarter. Trust Co. of Vermont now owns 7,910 shares of the company’s stock worth $1,319,000 after buying an additional 917 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Up 1.1%

GE opened at $231.86 on Monday. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The firm has a market cap of $247.25 billion, a P/E ratio of 38.71, a PEG ratio of 2.59 and a beta of 1.31. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $232.32. The business’s fifty day simple moving average is $198.19 and its 200 day simple moving average is $189.71.

GE Aerospace (NYSE:GE) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.20. The business had revenue of $9.94 billion for 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, equities research analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

Insider Activity at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the firm’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 sale, the senior vice president now directly 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 filing with the Securities & Exchange Commission, 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 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. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on GE shares. 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 report on Thursday, April 24th. UBS Group boosted 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. Citigroup dropped 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. JPMorgan Chase & Co. boosted their target price on GE Aerospace from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Bank of America upped their price objective on GE Aerospace from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $216.92.

GE Aerospace 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.