Wealth Enhancement Advisory Services LLC Increases Holdings in GE Aerospace (NYSE:GE)

Wealth Enhancement Advisory Services LLC increased its stake in GE Aerospace (NYSE:GE) by 10.7% in the first quarter, Holdings Channel reports. The institutional investor owned 643,659 shares of the company’s stock after acquiring an additional 62,322 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in GE Aerospace were worth $128,829,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its stake in shares of GE Aerospace by 25.3% during the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company’s stock valued at $2,003,000 after acquiring an additional 2,421 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of GE Aerospace by 7.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company’s stock worth $375,000 after acquiring an additional 150 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in GE Aerospace during the fourth quarter valued at about $228,000. Truist Financial Corp boosted its position in GE Aerospace by 2.6% during the fourth quarter. Truist Financial Corp now owns 228,334 shares of the company’s stock valued at $38,084,000 after purchasing an additional 5,757 shares in the last quarter. Finally, Empower Advisory Group LLC grew its stake in GE Aerospace by 7.9% in the fourth quarter. Empower Advisory Group LLC now owns 3,119 shares of the company’s stock valued at $520,000 after purchasing an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Price Performance

Shares of GE opened at $235.83 on Thursday. The business’s 50-day moving average is $219.70 and its two-hundred day moving average is $199.37. The company has a market capitalization of $251.48 billion, a P/E ratio of 36.68, a P/E/G ratio of 2.84 and a beta of 1.38. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $257.47. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08.

GE Aerospace (NYSE:GE) last posted its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.20. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. Research analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

Insider Buying and Selling

In other news, 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 completion of the sale, the vice president now owns 11,540 shares of the company’s stock, valued at $2,270,264.20. The trade was a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Mohamed Ali sold 1,602 shares of the firm’s 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 completion of the transaction, the senior vice president now directly owns 8,805 shares in the company, valued at $1,766,899.35. This represents a 15.39% 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 insiders.

Wall Street Analyst Weigh In

Several analysts have commented on GE shares. 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 reduced their price target on GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Northcoast Research downgraded shares of GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. UBS Group lifted their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company boosted their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, GE Aerospace has an average rating of “Moderate Buy” and an average target price 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.