Tang Capital Management LLC Has $986,000 Stock Position in GE Aerospace (NYSE:GE)

Tang Capital Management LLC boosted its position in GE Aerospace (NYSE:GE) by 327.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,911 shares of the company’s stock after acquiring an additional 4,528 shares during the period. Tang Capital Management LLC’s holdings in GE Aerospace were worth $986,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in GE. Chung Wu Investment Group LLC acquired a new stake in GE Aerospace in the 4th quarter valued at $795,000. National Bank of Canada FI lifted its stake in shares of GE Aerospace by 2.9% in 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 buying an additional 29,844 shares in the last quarter. National Pension Service grew its holdings in shares of 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 last quarter. Sanibel Captiva Trust Company Inc. grew its holdings in shares of GE Aerospace by 28.4% during the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 25,808 shares of the company’s stock valued at $4,305,000 after buying an additional 5,710 shares during the last quarter. Finally, FourThought Financial Partners LLC bought a new stake in shares of GE Aerospace during the fourth quarter worth about $507,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

GE Aerospace Stock Up 1.1%

GE stock opened at $231.86 on Friday. The stock has a market cap of $247.25 billion, a P/E ratio of 38.71, a P/E/G ratio of 2.59 and a beta of 1.31. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The stock’s fifty day simple moving average is $198.19 and its two-hundred day simple moving average is $189.58. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $232.32.

GE Aerospace (NYSE:GE) last released its earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.20. The company had revenue of $9.94 billion for 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%. Analysts expect that GE Aerospace will post 5.4 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Citigroup lowered their target price on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Bank of America boosted 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. Redburn Atlantic started coverage on GE Aerospace in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price on the stock. Northcoast Research raised GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 target price on the stock in a research report on Wednesday, April 9th. Finally, UBS Group upped their price target on GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $216.92.

Insiders Place Their Bets

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction on 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 directly owns 11,540 shares of the company’s stock, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mohamed Ali sold 1,602 shares of the firm’s stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

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.