Pallas Capital Advisors LLC Acquires 11,171 Shares of GE Aerospace (NYSE:GE)

Pallas Capital Advisors LLC raised its holdings in shares of GE Aerospace (NYSE:GE) by 125.2% during the first quarter, HoldingsChannel reports. The fund owned 20,096 shares of the company’s stock after purchasing an additional 11,171 shares during the quarter. Pallas Capital Advisors LLC’s holdings in GE Aerospace were worth $4,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in GE. Truvestments Capital LLC raised its holdings in GE Aerospace by 26.2% during the 4th quarter. Truvestments Capital LLC now owns 236 shares of the company’s stock valued at $39,000 after buying an additional 49 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE raised its stake in shares of GE Aerospace by 17.6% during the fourth 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 last quarter. Ballast Advisors LLC boosted its holdings in shares of GE Aerospace by 2.5% during the fourth quarter. Ballast Advisors LLC now owns 2,093 shares of the company’s stock worth $349,000 after purchasing an additional 51 shares during the period. Blue Barn Wealth LLC grew its stake in shares of GE Aerospace by 3.8% in the fourth 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. grew its stake in shares of GE Aerospace by 1.2% in the fourth 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 last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

GE has been the subject of a number of recent analyst reports. Northcoast Research lowered GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Royal Bank of Canada set a $275.00 target price on GE Aerospace and gave the company an “outperform” rating in a report on Tuesday, June 3rd. UBS Group lifted their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Redburn Atlantic initiated coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective on the stock. Finally, Citigroup dropped their target price on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $221.15.

Insider Activity

In other news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the transaction, the senior vice president now directly owns 8,805 shares of the company’s stock, valued at $1,766,899.35. This represents a 15.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the firm’s stock in a transaction 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 owns 11,540 shares in the company, valued at approximately $2,270,264.20. This trade represents 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.

GE Aerospace Trading Up 1.5%

NYSE:GE opened at $255.71 on Monday. The firm has a market capitalization of $272.69 billion, a P/E ratio of 42.69, a PEG ratio of 2.59 and a beta of 1.38. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. GE Aerospace has a one year low of $150.20 and a one year high of $257.47. The company’s 50-day simple moving average is $209.94 and its 200 day simple moving average is $196.34.

GE Aerospace (NYSE:GE) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 22.19% and a net margin of 14.31%. As a group, analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

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.