GAMMA Investing LLC Buys 5,044,632 Shares of GE Aerospace (NYSE:GE)

GAMMA Investing LLC lifted its position in GE Aerospace (NYSE:GE) by 23,611.7% during the 1st quarter, HoldingsChannel reports. The firm owned 5,065,997 shares of the company’s stock after acquiring an additional 5,044,632 shares during the quarter. GAMMA Investing LLC’s holdings in GE Aerospace were worth $1,013,959,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GE. Town & Country Bank & Trust CO dba First Bankers Trust CO bought a new stake in GE Aerospace in the first quarter worth $1,229,000. AdvisorNet Financial Inc lifted its position in GE Aerospace by 4.9% during the first quarter. AdvisorNet Financial Inc now owns 17,013 shares of the company’s stock valued at $3,405,000 after purchasing an additional 790 shares during the last quarter. Quent Capital LLC grew its stake in shares of GE Aerospace by 14.0% in the 1st quarter. Quent Capital LLC now owns 6,630 shares of the company’s stock worth $1,327,000 after buying an additional 816 shares in the last quarter. Moody National Bank Trust Division increased its holdings in shares of GE Aerospace by 2.6% in the 1st quarter. Moody National Bank Trust Division now owns 12,595 shares of the company’s stock worth $2,521,000 after buying an additional 322 shares during the last quarter. Finally, Legacy Private Trust Co. increased its holdings in shares of GE Aerospace by 14.0% in the 1st quarter. Legacy Private Trust Co. now owns 25,833 shares of the company’s stock worth $5,170,000 after buying an additional 3,173 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Price Performance

GE opened at $244.14 on Friday. The business has a fifty day moving average of $204.52 and a 200 day moving average of $193.17. The stock has a market cap of $260.34 billion, a P/E ratio of 40.76, a PEG ratio of 2.59 and a beta of 1.31. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $246.00.

GE Aerospace (NYSE:GE) last released its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.20. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. As a group, sell-side analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of analyst reports. UBS Group increased their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Citigroup lowered their price objective on GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Wells Fargo & Company lifted their target price on GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Northcoast Research lowered GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $220.00 price objective on shares of GE Aerospace in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.92.

Insider Activity at GE Aerospace

In related news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 8,805 shares of the company’s stock, valued at $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the firm’s stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the transaction, the vice president now owns 11,540 shares in the company, valued at $2,270,264.20. The trade was a 26.23% 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 company insiders.

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.