Farther Finance Advisors LLC Increases Stock Holdings in GE Aerospace (NYSE:GE)

Farther Finance Advisors LLC boosted its stake in GE Aerospace (NYSE:GE) by 7.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,482 shares of the company’s stock after purchasing an additional 1,059 shares during the quarter. Farther Finance Advisors LLC’s holdings in GE Aerospace were worth $2,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Truvestments Capital LLC raised its holdings in shares of GE Aerospace by 26.2% in the fourth quarter. Truvestments Capital LLC now owns 236 shares of the company’s stock valued at $39,000 after acquiring an additional 49 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its holdings in shares of GE Aerospace by 17.6% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company’s stock valued at $56,000 after purchasing an additional 50 shares during the last quarter. Ballast Advisors LLC raised its stake in GE Aerospace by 2.5% in the 4th quarter. Ballast Advisors LLC now owns 2,093 shares of the company’s stock worth $349,000 after acquiring an additional 51 shares during the last quarter. Blue Barn Wealth LLC raised its stake in GE Aerospace by 3.8% in the 4th quarter. Blue Barn Wealth LLC now owns 1,466 shares of the company’s stock worth $245,000 after acquiring an additional 54 shares during the last quarter. Finally, First Heartland Consultants Inc. raised its stake in GE Aerospace by 1.2% in the 4th quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company’s stock worth $789,000 after acquiring an additional 54 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Stock Down 3.8%

Shares of NYSE GE opened at $241.80 on Wednesday. The firm has a market cap of $257.85 billion, a price-to-earnings ratio of 40.37, a PEG ratio of 2.59 and a beta of 1.38. 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 $257.47. The business’s 50 day moving average is $212.06 and its two-hundred day moving average is $197.14.

GE Aerospace (NYSE:GE) last posted its quarterly 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. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. Research analysts predict that GE Aerospace will post 5.4 EPS for the current year.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

GE has been the subject of a number of recent research reports. 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. Wells Fargo & Company raised their target price on GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Redburn Atlantic initiated coverage on GE Aerospace in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective on the stock. Citigroup decreased their target price on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, UBS Group raised their target price 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. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, GE Aerospace presently has an average rating of “Moderate Buy” and an average price target of $221.15.

GE Aerospace 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.