GE Aerospace (NYSE:GE) Shares Bought by Glen Eagle Advisors LLC

by · The Cerbat Gem

Glen Eagle Advisors LLC lifted its holdings in shares of GE Aerospace (NYSE:GE – Free Report) by 49.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,823 shares of the company’s stock after buying an additional 600 shares during the period. Glen Eagle Advisors LLC’s holdings in GE Aerospace were worth $304,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Chung Wu Investment Group LLC acquired a new stake in GE Aerospace during the 4th quarter worth approximately $795,000. National Bank of Canada FI raised its stake in shares of GE Aerospace by 2.9% during the fourth quarter. National Bank of Canada FI now owns 1,064,417 shares of the company’s stock worth $177,535,000 after purchasing an additional 29,844 shares during the last quarter. National Pension Service lifted its holdings in shares of GE Aerospace by 1.7% during the fourth quarter. National Pension Service now owns 2,254,637 shares of the company’s stock worth $376,051,000 after purchasing an additional 37,884 shares during the period. FourThought Financial Partners LLC acquired a new position in GE Aerospace in the 4th quarter valued at $507,000. Finally, Invesco Ltd. increased its stake in GE Aerospace by 14.4% in the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company’s stock valued at $1,591,970,000 after buying an additional 1,204,910 shares during the period. Hedge funds and other institutional investors 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 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 completion of the sale, the senior vice president now directly owns 8,805 shares in the company, valued at $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the business’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 transaction of $807,379.92. Following the completion of the transaction, the vice president now directly owns 11,540 shares of the company’s stock, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

GE Aerospace Price Performance

Shares of NYSE GE opened at $233.56 on Thursday. 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 company’s 50-day moving average price is $200.56 and its 200 day moving average price is $190.76. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $237.30. The stock has a market cap of $249.07 billion, a price-to-earnings ratio of 38.99, a PEG ratio of 2.59 and a beta of 1.31.

GE Aerospace (NYSE:GE – Get Free Report) last released 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 business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. As a group, research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $220.00 target price on shares of GE Aerospace in a report on Wednesday, April 23rd. Bank of America boosted their target price on GE Aerospace from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Wells Fargo & Company increased their target price on GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Redburn Atlantic initiated coverage on GE Aerospace in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target on the stock. Finally, Northcoast Research lowered GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $216.92.

View Our Latest Report on GE

About GE Aerospace

(Free Report)

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.

Further Reading

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