Wealth Effects LLC Has $365,000 Stock Holdings in GE Aerospace (NYSE:GE)

Wealth Effects LLC lowered its stake in GE Aerospace (NYSE:GE) by 19.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,824 shares of the company’s stock after selling 450 shares during the quarter. Wealth Effects LLC’s holdings in GE Aerospace were worth $365,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of GE Aerospace by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company’s stock worth $14,980,297,000 after purchasing an additional 410,172 shares during the last quarter. FMR LLC boosted its position in shares of GE Aerospace by 1.5% in the 4th quarter. FMR LLC now owns 66,823,968 shares of the company’s stock worth $11,145,570,000 after purchasing an additional 965,012 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of GE Aerospace by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company’s stock worth $3,846,587,000 after purchasing an additional 529,457 shares during the last quarter. Norges Bank bought a new position in shares of GE Aerospace in the 4th quarter worth $2,375,439,000. Finally, Northern Trust Corp boosted its position in shares of GE Aerospace by 5.8% in the 4th quarter. Northern Trust Corp now owns 10,046,867 shares of the company’s stock worth $1,675,717,000 after purchasing an additional 553,104 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Trading Up 0.4%

GE opened at $249.86 on Thursday. The stock has a market capitalization of $266.45 billion, a P/E ratio of 38.86, a P/E/G ratio of 3.00 and a beta of 1.38. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $257.47. The firm’s fifty day simple moving average is $225.79 and its 200 day simple moving average is $201.64. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90.

GE Aerospace (NYSE:GE) last posted 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 for the quarter, compared to analysts’ expectations of $9.06 billion. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. As a group, 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 business’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the sale, the senior vice president now directly owns 8,805 shares of the company’s stock, valued at $1,766,899.35. The trade was a 15.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the business’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 sale, the vice president now directly owns 11,540 shares in the company, valued at $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. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GE. Citigroup reduced their price target on GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Northcoast Research cut shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Wells Fargo & Company lifted their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Royal Bank Of Canada set a $275.00 price target on shares of GE Aerospace and gave the stock an “outperform” rating in a research report on Tuesday, June 3rd. Finally, UBS Group lifted their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.