Blue Trust Inc. Raises Holdings in GE Aerospace (NYSE:GE)

Blue Trust Inc. lifted its position in shares of GE Aerospace (NYSE:GE) by 5.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 12,077 shares of the company’s stock after acquiring an additional 612 shares during the quarter. Blue Trust Inc.’s holdings in GE Aerospace were worth $2,417,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Sendero Wealth Management LLC increased its position in GE Aerospace by 526.6% during the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company’s stock valued at $3,004,000 after purchasing an additional 12,613 shares during the period. Chung Wu Investment Group LLC purchased a new stake in shares of GE Aerospace in the 4th quarter worth approximately $795,000. National Bank of Canada FI boosted its stake in shares of GE Aerospace by 2.9% during the fourth quarter. National Bank of Canada FI now owns 1,064,417 shares of the company’s stock valued at $177,535,000 after purchasing an additional 29,844 shares in the last quarter. National Pension Service increased its holdings in GE Aerospace by 1.7% during the fourth quarter. National Pension Service now owns 2,254,637 shares of the company’s stock valued at $376,051,000 after buying an additional 37,884 shares during the period. Finally, FourThought Financial Partners LLC purchased a new position in GE Aerospace during the fourth quarter valued at approximately $507,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Price Performance

Shares of NYSE GE opened at $235.83 on Friday. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $257.47. The company has a market cap of $251.48 billion, a PE ratio of 36.68, a P/E/G ratio of 2.85 and a beta of 1.38. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. The business has a 50-day simple moving average of $220.79 and a two-hundred day simple moving average of $199.75.

GE Aerospace (NYSE:GE) 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 firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. As a group, equities analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace 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 sale, the vice president now 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 8,805 shares in the company, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GE shares. Citigroup lowered their target price on GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Wells Fargo & Company upped their price objective on GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Royal Bank Of Canada set a $275.00 price objective on GE Aerospace and gave the company an “outperform” rating in a research report on Tuesday, June 3rd. UBS Group lifted their target price 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 shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $221.15.

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.