Opal Wealth Advisors LLC Has $329,000 Holdings in GE Aerospace (NYSE:GE)

Opal Wealth Advisors LLC lifted its stake in shares of GE Aerospace (NYSE:GE) by 30.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,645 shares of the company’s stock after buying an additional 385 shares during the period. Opal Wealth Advisors LLC’s holdings in GE Aerospace were worth $329,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in GE Aerospace during the 4th quarter valued at $2,375,439,000. GAMMA Investing LLC grew its holdings in GE Aerospace by 23,611.7% during the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company’s stock valued at $1,013,959,000 after buying an additional 5,044,632 shares in the last quarter. Janus Henderson Group PLC grew its holdings in GE Aerospace by 87.7% during the 4th quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company’s stock valued at $597,412,000 after buying an additional 1,673,365 shares in the last quarter. Invesco Ltd. grew its holdings in shares of GE Aerospace by 14.4% during the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company’s stock worth $1,591,970,000 after purchasing an additional 1,204,910 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of GE Aerospace during the fourth quarter worth about $194,208,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Activity

In other news, 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 transaction, the vice president now directly owns 11,540 shares of the company’s stock, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Mohamed Ali sold 1,602 shares of the company’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the transaction, the senior vice president now directly owns 8,805 shares in the company, valued at $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

GE has been the subject of a number of recent research reports. Northcoast Research downgraded GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. UBS Group boosted their price objective on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Citigroup reduced their target price on GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company upped their price target on GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Finally, Redburn Atlantic assumed coverage on GE Aerospace in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $221.15.

GE Aerospace Stock Down 1.6%

GE stock opened at $236.07 on Friday. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $257.47. The business’s 50-day moving average is $216.42 and its two-hundred day moving average is $198.24. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The company has a market cap of $251.74 billion, a price-to-earnings ratio of 39.41, a P/E/G ratio of 2.59 and a beta of 1.38.

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, beating the consensus estimate of $1.29 by $0.20. The business had revenue of $9.94 billion during 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%. As a group, analysts forecast that GE Aerospace will post 5.4 earnings per share for the current 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.