GE Aerospace (NYSE:GE) Shares Sold by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC lessened its stake in shares of GE Aerospace (NYSE:GE) by 16.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 533 shares of the company’s stock after selling 107 shares during the period. Princeton Global Asset Management LLC’s holdings in GE Aerospace were worth $107,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Sendero Wealth Management LLC raised its holdings in GE Aerospace by 526.6% in the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company’s stock valued at $3,004,000 after acquiring an additional 12,613 shares during the last quarter. Chung Wu Investment Group LLC purchased a new stake in shares of GE Aerospace in the 4th quarter valued at approximately $795,000. National Bank of Canada FI grew its stake in shares of GE Aerospace by 2.9% in the 4th 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 during the period. National Pension Service grew its stake in shares of GE Aerospace by 1.7% in the 4th 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 stake in shares of GE Aerospace in the 4th quarter valued at approximately $507,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Buying and Selling at GE Aerospace

In other news, SVP Mohamed Ali sold 1,602 shares of the firm’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the sale, the senior vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 shares were 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 in the company, valued at $2,270,264.20. The trade was 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 corporate insiders.

Wall Street Analyst Weigh In

GE has been the subject of several analyst reports. Citigroup dropped their price target on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Northcoast Research cut shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Wells Fargo & Company increased their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Royal Bank of Canada set a $275.00 price objective on shares of GE Aerospace and gave the stock an “outperform” rating in a research report on Tuesday, June 3rd. Finally, Redburn Atlantic assumed 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 for the company. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $221.15.

GE Aerospace Stock Performance

Shares of GE stock opened at $255.71 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $257.47. The stock has a market capitalization of $272.69 billion, a PE ratio of 42.69, a P/E/G ratio of 2.59 and a beta of 1.38. The firm has a 50 day moving average of $209.94 and a two-hundred day moving average of $196.21.

GE Aerospace (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.29 by $0.20. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.06 billion. On average, research analysts predict 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.