GE Aerospace (NYSE:GE) Shares Purchased by Orrstown Financial Services Inc.

Orrstown Financial Services Inc. lifted its position in GE Aerospace (NYSE:GE) by 3.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,779 shares of the company’s stock after purchasing an additional 423 shares during the quarter. GE Aerospace makes up 0.6% of Orrstown Financial Services Inc.’s investment portfolio, making the stock its 19th biggest holding. Orrstown Financial Services Inc.’s holdings in GE Aerospace were worth $2,358,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Sivia Capital Partners LLC boosted its position in shares of GE Aerospace by 68.2% in the 1st quarter. Sivia Capital Partners LLC now owns 4,146 shares of the company’s stock valued at $830,000 after purchasing an additional 1,681 shares during the period. Perkins Coie Trust Co raised its stake in GE Aerospace by 20.6% during the 1st quarter. Perkins Coie Trust Co now owns 474 shares of the company’s stock valued at $95,000 after acquiring an additional 81 shares during the last quarter. Impact Capital Partners LLC raised its stake in GE Aerospace by 39.1% during the 1st quarter. Impact Capital Partners LLC now owns 2,741 shares of the company’s stock valued at $549,000 after acquiring an additional 771 shares during the last quarter. Disciplined Investments LLC raised its stake in GE Aerospace by 9.2% during the 1st quarter. Disciplined Investments LLC now owns 1,316 shares of the company’s stock valued at $263,000 after acquiring an additional 111 shares during the last quarter. Finally, First National Corp MA ADV purchased a new stake in GE Aerospace during the 1st quarter valued at approximately $206,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GE has been the subject of several analyst reports. Redburn Atlantic initiated coverage on GE Aerospace in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. Royal Bank of Canada set a $275.00 price objective on GE Aerospace and gave the company an “outperform” rating in a research note on Tuesday, June 3rd. Citigroup reduced 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 upped their price objective on GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Finally, Northcoast Research downgraded GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, GE Aerospace currently has an average rating of “Moderate Buy” and a consensus price target of $221.15.

GE Aerospace Stock Performance

Shares of GE stock opened at $255.71 on Friday. The company has a market cap of $272.69 billion, a price-to-earnings ratio of 42.69, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. The stock has a 50 day simple moving average of $209.94 and a 200-day simple moving average of $196.21. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $257.47. 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 released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.20. The business had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. On average, equities analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

Insider Buying and Selling

In other GE Aerospace 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 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. This represents a 15.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value 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. 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.