Hickory Point Bank & Trust Raises Stake in GE Aerospace (NYSE:GE)

Hickory Point Bank & Trust grew its stake in shares of GE Aerospace (NYSE:GE) by 6.0% in the first quarter, HoldingsChannel.com reports. The firm owned 2,218 shares of the company’s stock after buying an additional 125 shares during the quarter. Hickory Point Bank & Trust’s holdings in GE Aerospace were worth $444,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC grew its stake in shares of GE Aerospace by 25.3% in the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company’s stock worth $2,003,000 after acquiring an additional 2,421 shares during the period. Revolve Wealth Partners LLC lifted its holdings in GE Aerospace by 7.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company’s stock valued at $375,000 after purchasing an additional 150 shares in the last quarter. Robertson Stephens Wealth Management LLC purchased a new position in GE Aerospace during the fourth quarter valued at approximately $707,000. Financial Advocates Investment Management lifted its holdings in shares of GE Aerospace by 8.8% in the fourth quarter. Financial Advocates Investment Management now owns 4,049 shares of the company’s stock worth $675,000 after buying an additional 329 shares in the last quarter. Finally, Leo Wealth LLC lifted its holdings in shares of GE Aerospace by 5.9% in the fourth quarter. Leo Wealth LLC now owns 4,621 shares of the company’s stock worth $771,000 after buying an additional 259 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Northcoast Research downgraded shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Wells Fargo & Company upped their price target 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. UBS Group upped their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Redburn Atlantic initiated coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target for the company. Finally, Royal Bank of Canada set a $275.00 price target on shares of GE Aerospace and gave the company an “outperform” rating in a research report on Tuesday, June 3rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $221.15.

Insider Activity at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the business’s 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 completion of the transaction, 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 legal filing with the SEC, which can be accessed through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the business’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 completion of the sale, the vice president now directly owns 11,540 shares in the company, valued at $2,270,264.20. This represents a 26.23% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

GE Aerospace Trading Up 1.5%

Shares of GE stock opened at $255.71 on Friday. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $257.47. The stock has a market cap of $272.69 billion, a P/E ratio of 42.69, a P/E/G ratio of 2.59 and a beta of 1.38. The business has a fifty day simple moving average of $209.94 and a 200-day simple moving average of $196.21. 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 (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.20. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. On average, analysts forecast 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.