GE Aerospace (NYSE:GE) Shares Sold by Hoey Investments Inc.

Hoey Investments Inc. decreased its holdings in shares of GE Aerospace (NYSE:GE) by 22.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,253 shares of the company’s stock after selling 8,310 shares during the period. GE Aerospace makes up approximately 1.1% of Hoey Investments Inc.’s holdings, making the stock its 10th largest position. Hoey Investments Inc.’s holdings in GE Aerospace were worth $5,855,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in GE. New Age Alpha Advisors LLC increased its holdings in GE Aerospace by 133.3% in 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 in the last quarter. Sumitomo Mitsui Financial Group Inc. acquired a new stake in GE Aerospace during the fourth quarter worth approximately $28,000. Putney Financial Group LLC acquired a new stake in GE Aerospace during the fourth quarter worth approximately $28,000. CBIZ Investment Advisory Services LLC acquired a new position in shares of GE Aerospace in the 4th quarter valued at $29,000. Finally, Picton Mahoney Asset Management boosted its holdings in shares of GE Aerospace by 62.4% in 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 owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GE shares. UBS Group raised their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Wells Fargo & Company boosted their target price 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 target price on shares of GE Aerospace and gave the stock an “outperform” rating in a research report on Tuesday, June 3rd. Redburn Atlantic initiated coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price for the company. Finally, Citigroup decreased their target price on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $221.15.

GE Aerospace Stock Down 1.6%

GE stock opened at $236.07 on Friday. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $257.47. The firm has a market cap of $251.74 billion, a PE ratio of 39.41, a P/E/G ratio of 2.59 and a beta of 1.38. The firm has a 50 day simple moving average of $216.42 and a 200 day simple moving average of $198.24. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

GE Aerospace (NYSE:GE) last released its 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 business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. Equities research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Insider Activity at GE Aerospace

In related news, VP Robert M. Giglietti sold 4,104 shares of the company’s stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the sale, the vice president now owns 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the sale, the senior vice president now owns 8,805 shares of the company’s stock, valued at approximately $1,766,899.35. This trade represents a 15.39% 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 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.