RDA Financial Network Buys 7,500 Shares of GE Aerospace (NYSE:GE)

RDA Financial Network boosted its stake in GE Aerospace (NYSE:GE) by 446.4% during the first quarter, HoldingsChannel reports. The firm owned 9,180 shares of the company’s stock after buying an additional 7,500 shares during the period. RDA Financial Network’s holdings in GE Aerospace were worth $1,837,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of GE. Vanguard Group Inc. boosted its holdings 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 in the last quarter. FMR LLC lifted its position in 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 buying an additional 965,012 shares during the last quarter. Geode Capital Management LLC boosted its stake in GE Aerospace by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company’s stock worth $3,846,587,000 after buying an additional 529,457 shares in the last quarter. Norges Bank purchased a new stake in GE Aerospace in the fourth quarter worth approximately $2,375,439,000. Finally, Northern Trust Corp grew its position in GE Aerospace by 5.8% during the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company’s stock valued at $1,675,717,000 after acquiring an additional 553,104 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GE shares. Wells Fargo & Company boosted their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Redburn Atlantic started coverage on shares of GE Aerospace in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target for the company. Royal Bank of Canada set a $275.00 price target on shares of GE Aerospace and gave the company an “outperform” rating in a research report on Tuesday, June 3rd. Citigroup decreased their price objective on GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Finally, UBS Group boosted 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. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $221.15.

Insider Activity

In other news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace 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 owns 8,805 shares of the company’s stock, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the business’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the transaction, the vice president now owns 11,540 shares in the company, valued at $2,270,264.20. This represents a 26.23% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

GE Aerospace Stock Performance

GE Aerospace stock opened at $255.71 on Friday. 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 firm has a market cap of $272.69 billion, a P/E ratio of 42.69, a P/E/G ratio of 2.59 and a beta of 1.38. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $257.47. The firm has a 50-day moving average of $209.94 and a 200-day moving average of $196.21.

GE Aerospace (NYSE:GE) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.20. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. The business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. Sell-side analysts expect that GE Aerospace will post 5.4 EPS for the current year.

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.