Hsbc Holdings PLC lessened its stake in GE Aerospace (NYSE:GE – Free Report) by 5.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,907,599 shares of the company’s stock after selling 118,062 shares during the period. Hsbc Holdings PLC’s holdings in GE Aerospace were worth $588,905,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of GE. Blueline Advisors LLC purchased a new position in shares of GE Aerospace during the 4th quarter valued at approximately $25,000. Ankerstar Wealth LLC purchased a new stake in GE Aerospace during the fourth quarter worth $31,000. Tucker Asset Management LLC purchased a new stake in GE Aerospace during the fourth quarter worth $32,000. Redmont Wealth Advisors LLC acquired a new stake in GE Aerospace during the third quarter valued at $36,000. Finally, Beaird Harris Wealth Management LLC grew its position in GE Aerospace by 72.0% during the third quarter. Beaird Harris Wealth Management LLC now owns 141 shares of the company’s stock valued at $42,000 after buying an additional 59 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.
GE Aerospace Price Performance
Shares of NYSE GE opened at $358.77 on Friday. The firm has a market cap of $374.32 billion, a PE ratio of 44.18, a PEG ratio of 3.17 and a beta of 1.37. The firm has a fifty day moving average of $309.71 and a 200 day moving average of $309.38. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.70 and a current ratio of 1.01. GE Aerospace has a one year low of $236.51 and a one year high of $364.70.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on GE. Wells Fargo & Company initiated coverage on shares of GE Aerospace in a research report on Wednesday, April 1st. They issued an “overweight” rating and a $325.00 price objective for the company. UBS Group dropped their target price on GE Aerospace from $357.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. Zacks Research lowered GE Aerospace from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Citigroup cut their price target on GE Aerospace from $380.00 to $353.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Finally, President Capital reduced their price target on GE Aerospace from $355.00 to $342.00 and set a “buy” rating for the company in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $348.22.
View Our Latest Report on GE Aerospace
GE Aerospace Profile
GE Aerospace (NYSE: GE) is the aerospace business of General Electric, focused on the design, manufacture and support of aircraft engines, integrated propulsion systems and related aftermarket services. The company serves commercial airlines, airframers, business and general aviation operators, and defense customers, providing propulsion solutions for a broad range of aircraft types from single‑aisle airliners to widebody and military platforms.
Its product portfolio includes a family of commercial and military jet engines as well as spare parts, components and systems engineering.
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