1,105 Shares in GE Aerospace (NYSE:GE) Bought by Spectrum Asset Management Inc. NB CA

Spectrum Asset Management Inc. NB CA bought a new stake in shares of GE Aerospace (NYSE:GE) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,105 shares of the company’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC grew its holdings in shares of GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock valued at $25,000 after buying an additional 84 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new position in GE Aerospace in the 4th quarter worth $28,000. Putney Financial Group LLC acquired a new stake in GE Aerospace during the 4th quarter worth about $28,000. CBIZ Investment Advisory Services LLC purchased a new stake in GE Aerospace during the 4th quarter valued at about $29,000. Finally, Picton Mahoney Asset Management grew its stake in GE Aerospace by 62.4% during the 4th quarter. Picton Mahoney Asset Management now owns 177 shares of the company’s stock valued at $30,000 after purchasing an additional 68 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other GE Aerospace news, 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 transaction, the senior vice president now 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 SEC, which is accessible through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace 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 sale, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

GE Aerospace Stock Performance

Shares of NYSE GE opened at $245.38 on Thursday. The company’s fifty day moving average price is $213.64 and its 200 day moving average price is $197.47. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $257.47. The company has a market capitalization of $261.67 billion, a PE ratio of 40.97, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

GE Aerospace (NYSE:GE) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.20. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. On average, research analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

Wall Street Analyst Weigh In

GE has been the subject of several research analyst reports. Northcoast Research cut 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 stock an “overweight” rating in a report on Thursday, April 24th. Redburn Atlantic initiated coverage on shares of GE Aerospace in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. Royal Bank of Canada set a $275.00 price objective on shares of GE Aerospace and gave the company an “outperform” rating in a report on Tuesday, June 3rd. Finally, UBS Group raised their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $221.15.

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.