Trueblood Wealth Management LLC Buys Shares of 1,168 GE Aerospace (NYSE:GE)

Trueblood Wealth Management LLC bought a new stake in GE Aerospace (NYSE:GE) during the first quarter, HoldingsChannel.com reports. The fund bought 1,168 shares of the company’s stock, valued at approximately $234,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Petredis Investment Advisors LLC lifted its holdings in GE Aerospace by 1.3% in the 1st quarter. Petredis Investment Advisors LLC now owns 53,952 shares of the company’s stock valued at $10,798,000 after purchasing an additional 684 shares in the last quarter. Sanibel Captiva Trust Company Inc. increased its stake in shares of GE Aerospace by 21.7% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 31,409 shares of the company’s stock valued at $6,287,000 after acquiring an additional 5,601 shares during the last quarter. Curated Wealth Partners LLC acquired a new position in shares of GE Aerospace during the 1st quarter valued at about $358,000. Dividend Assets Capital LLC increased its stake in shares of GE Aerospace by 33.3% during the 1st quarter. Dividend Assets Capital LLC now owns 1,740 shares of the company’s stock valued at $348,000 after acquiring an additional 435 shares during the last quarter. Finally, Sonora Investment Management Group LLC increased its stake in shares of GE Aerospace by 3.4% during the 1st quarter. Sonora Investment Management Group LLC now owns 2,088 shares of the company’s stock valued at $418,000 after acquiring an additional 69 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at GE Aerospace

In other news, VP Robert M. Giglietti sold 4,104 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 11,540 shares of the company’s stock, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the firm’s stock in a transaction that occurred 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 directly owns 8,805 shares of the company’s stock, valued at $1,766,899.35. The trade was a 15.39% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

GE Aerospace Stock Up 1.4%

Shares of NYSE:GE opened at $245.38 on Thursday. 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 company has a 50 day moving average of $213.64 and a two-hundred day moving average of $197.47. The company has a market capitalization of $261.67 billion, a price-to-earnings ratio of 40.97, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38.

GE Aerospace (NYSE:GE) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $9.06 billion. As a group, analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GE. Northcoast Research downgraded shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Redburn Atlantic began coverage on shares of GE Aerospace in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. UBS Group upped their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Wells Fargo & Company upped 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. 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 research note on Tuesday, June 3rd. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock 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.