Meyer Handelman Co. Reduces Stock Position in GE Aerospace (NYSE:GE)

Meyer Handelman Co. lowered its position in shares of GE Aerospace (NYSE:GE) by 0.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 162,657 shares of the company’s stock after selling 434 shares during the period. Meyer Handelman Co.’s holdings in GE Aerospace were worth $32,556,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GE. Brighton Jones LLC boosted its position in GE Aerospace by 25.3% during the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company’s stock valued at $2,003,000 after buying an additional 2,421 shares during the period. Revolve Wealth Partners LLC raised its holdings in 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 purchasing an additional 150 shares in the last quarter. Strategic Blueprint LLC raised its holdings in GE Aerospace by 15.2% in the 4th quarter. Strategic Blueprint LLC now owns 3,883 shares of the company’s stock worth $648,000 after purchasing an additional 512 shares in the last quarter. Swedbank AB raised its holdings in GE Aerospace by 0.4% in the 4th quarter. Swedbank AB now owns 137,072 shares of the company’s stock worth $22,862,000 after purchasing an additional 511 shares in the last quarter. Finally, OLD National Bancorp IN raised its holdings in GE Aerospace by 8.8% in the 4th quarter. OLD National Bancorp IN now owns 3,584 shares of the company’s stock worth $598,000 after purchasing an additional 290 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Up 0.7%

NYSE:GE opened at $245.84 on Friday. The firm has a market cap of $262.16 billion, a P/E ratio of 41.04, a P/E/G ratio of 2.59 and a beta of 1.31. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $246.86. The firm has a 50-day simple moving average of $205.20 and a two-hundred day simple moving average of $193.60.

GE Aerospace (NYSE:GE) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.20. The business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. Analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on GE shares. Citigroup decreased their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company 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. Wells Fargo & Company upped their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Redburn Atlantic started coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective for the company. Finally, Northcoast Research lowered shares of GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $216.92.

Insider Activity

In other news, 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 transaction of $807,379.92. Following the sale, the vice president now owns 11,540 shares of the company’s stock, valued at $2,270,264.20. This trade represents a 26.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through 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 sale, the senior vice president now directly owns 8,805 shares in the company, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their position. The disclosure for this sale can be found here. 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.