Strategic Wealth Partners Ltd. Boosts Position in GE Aerospace (NYSE:GE)

Strategic Wealth Partners Ltd. grew its position in GE Aerospace (NYSE:GE) by 7.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,428 shares of the company’s stock after purchasing an additional 96 shares during the period. Strategic Wealth Partners Ltd.’s holdings in GE Aerospace were worth $238,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tang Capital Management LLC grew its holdings in GE Aerospace by 327.4% during the 4th quarter. Tang Capital Management LLC now owns 5,911 shares of the company’s stock valued at $986,000 after buying an additional 4,528 shares during the last quarter. Tema Etfs LLC purchased a new stake in shares of GE Aerospace in the fourth quarter valued at $1,204,000. Toronto Dominion Bank boosted its stake in shares of GE Aerospace by 54.9% during the fourth quarter. Toronto Dominion Bank now owns 833,536 shares of the company’s stock valued at $139,026,000 after acquiring an additional 295,563 shares during the last quarter. Scissortail Wealth Management LLC increased its position in GE Aerospace by 20,385.7% during the 4th quarter. Scissortail Wealth Management LLC now owns 1,434 shares of the company’s stock worth $240,000 after purchasing an additional 1,427 shares in the last quarter. Finally, Snowden Capital Advisors LLC raised its stake in GE Aerospace by 13.2% in the 4th quarter. Snowden Capital Advisors LLC now owns 8,756 shares of the company’s stock valued at $1,463,000 after purchasing an additional 1,023 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GE shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $220.00 price target on shares of GE Aerospace in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. raised their target price on shares of GE Aerospace from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Northcoast Research downgraded GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday. Wells Fargo & Company raised their price objective on GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Finally, Redburn Atlantic started coverage on GE Aerospace in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective for the company. 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.com, GE Aerospace currently has a consensus rating of “Moderate Buy” and a consensus price target of $216.92.

GE Aerospace Trading Up 1.4%

Shares of GE opened at $235.01 on Tuesday. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $235.87. The firm has a market capitalization of $250.61 billion, a P/E ratio of 39.23, a price-to-earnings-growth 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. The stock’s fifty day simple moving average is $198.98 and its 200 day simple moving average is $190.15.

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

Insider Buying and Selling

In related news, SVP Mohamed Ali sold 1,602 shares of the 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 completion of the sale, the senior vice president now directly owns 8,805 shares in the company, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the firm’s 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 directly owns 11,540 shares in the company, valued at $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

GE Aerospace Company 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.