Bay Rivers Group Makes New $369,000 Investment in GE Aerospace (NYSE:GE)

Bay Rivers Group bought a new position in shares of GE Aerospace (NYSE:GE) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,843 shares of the company’s stock, valued at approximately $369,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sendero Wealth Management LLC boosted its position in shares of GE Aerospace by 526.6% in the first quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company’s stock valued at $3,004,000 after acquiring an additional 12,613 shares during the period. Chung Wu Investment Group LLC bought a new position in shares of GE Aerospace in the fourth quarter valued at approximately $795,000. National Bank of Canada FI boosted its position in shares of GE Aerospace by 2.9% in the fourth quarter. National Bank of Canada FI now owns 1,064,417 shares of the company’s stock valued at $177,535,000 after acquiring an additional 29,844 shares during the period. National Pension Service boosted its position in shares of GE Aerospace by 1.7% in the fourth quarter. National Pension Service now owns 2,254,637 shares of the company’s stock valued at $376,051,000 after acquiring an additional 37,884 shares during the period. Finally, FourThought Financial Partners LLC bought a new position in shares of GE Aerospace in the fourth quarter valued at approximately $507,000. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GE. Redburn Atlantic began coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective for the company. UBS Group raised their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Northcoast Research lowered shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Citigroup dropped their target price on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, Wells Fargo & Company lifted their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, GE Aerospace presently has an average rating of “Moderate Buy” and an average target price of $221.15.

Insider Buying and Selling

In other news, SVP Mohamed Ali sold 1,602 shares of the business’s stock in a transaction on 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 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the business’s stock in a transaction 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 sale, the vice president now owns 11,540 shares in the company, valued at approximately $2,270,264.20. This trade 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 Trading Up 0.8%

GE stock opened at $250.97 on Thursday. 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 one year low of $150.20 and a one year high of $253.06. The company’s 50 day moving average price is $207.88 and its two-hundred day moving average price is $195.04. The company has a market capitalization of $267.63 billion, a PE ratio of 41.90, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38.

GE Aerospace (NYSE:GE) last issued its 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. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. As a group, analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

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.