Monarch Capital Management Inc. Trims Stock Holdings in GE Aerospace (NYSE:GE)

Monarch Capital Management Inc. reduced its position in shares of GE Aerospace (NYSE:GE) by 3.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,327 shares of the company’s stock after selling 345 shares during the period. Monarch Capital Management Inc.’s holdings in GE Aerospace were worth $1,870,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted 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 buying an additional 2,421 shares in the last quarter. Revolve Wealth Partners LLC raised its position in GE Aerospace by 7.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company’s stock worth $375,000 after acquiring an additional 150 shares during the period. Strategic Financial Concepts LLC purchased a new stake in shares of GE Aerospace in the fourth quarter worth $228,000. Savant Capital LLC increased its stake in shares of GE Aerospace by 2.1% in the fourth quarter. Savant Capital LLC now owns 39,316 shares of the company’s stock worth $6,558,000 after purchasing an additional 802 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. grew its stake in GE Aerospace by 0.5% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 11,826 shares of the company’s stock valued at $1,972,000 after acquiring an additional 63 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GE shares. Northcoast Research lowered shares of GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Wells Fargo & Company lifted their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Citigroup cut their price target 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. UBS Group upped their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Finally, Royal Bank of Canada set a $275.00 price objective on shares of GE Aerospace and gave the company an “outperform” rating in a report on Tuesday, June 3rd. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $221.15.

Insider Buying and Selling

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following the transaction, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the transaction, the senior vice president now owns 8,805 shares in the company, valued at $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

GE Aerospace Trading Down 3.8%

Shares of GE stock opened at $241.80 on Wednesday. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $257.47. The firm’s fifty day simple moving average is $212.06 and its 200 day simple moving average is $197.14. The firm has a market capitalization of $257.85 billion, a P/E ratio of 40.37, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. 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 issued its earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.29 by $0.20. The company had revenue of $9.94 billion for 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%. As a group, sell-side analysts predict that GE Aerospace will post 5.4 EPS for the current year.

About GE Aerospace

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.