Texas Bank & Trust Co Makes New $385,000 Investment in GE Aerospace (NYSE:GE)

Texas Bank & Trust Co acquired a new position in GE Aerospace (NYSE:GE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,309 shares of the company’s stock, valued at approximately $385,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GE. Carnegie Investment Counsel lifted its position in shares of GE Aerospace by 12.0% during the 4th quarter. Carnegie Investment Counsel now owns 3,857 shares of the company’s stock valued at $643,000 after buying an additional 413 shares in the last quarter. Procyon Advisors LLC lifted its position in shares of GE Aerospace by 14.3% during the 4th quarter. Procyon Advisors LLC now owns 2,251 shares of the company’s stock valued at $375,000 after buying an additional 281 shares in the last quarter. Merit Financial Group LLC lifted its holdings in GE Aerospace by 16.4% in the 4th quarter. Merit Financial Group LLC now owns 30,427 shares of the company’s stock valued at $5,075,000 after purchasing an additional 4,298 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in GE Aerospace by 6.4% in the 4th quarter. Arkadios Wealth Advisors now owns 6,411 shares of the company’s stock valued at $1,069,000 after purchasing an additional 388 shares in the last quarter. Finally, Trust Co. of Vermont lifted its holdings in GE Aerospace by 13.1% in the 4th quarter. Trust Co. of Vermont now owns 7,910 shares of the company’s stock valued at $1,319,000 after purchasing an additional 917 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Up 1.1%

Shares of NYSE:GE opened at $231.86 on Monday. The business has a 50-day moving average price of $198.19 and a 200 day moving average price of $189.71. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $232.32. The company has a market capitalization of $247.25 billion, a price-to-earnings ratio of 38.71, a PEG ratio of 2.59 and a beta of 1.31. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE) last announced its 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 company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.06 billion. Sell-side analysts expect that GE Aerospace will post 5.4 EPS for the current year.

Analyst Ratings Changes

GE has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on GE Aerospace from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. 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. Royal Bank of Canada restated an “outperform” rating and issued a $220.00 price objective on shares of GE Aerospace in a report on Wednesday, April 23rd. UBS Group raised their price objective on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Finally, Bank of America raised their target price on GE Aerospace from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, GE Aerospace presently has an average rating of “Moderate Buy” and a consensus target price of $216.92.

Insider Activity 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 stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of 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 filing with the SEC, which can be accessed through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction dated 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 transaction, 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 position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

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.