NorthCrest Asset Manangement LLC Grows Position in GE Aerospace (NYSE:GE)

NorthCrest Asset Manangement LLC lifted its holdings in shares of GE Aerospace (NYSE:GE) by 181.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,623 shares of the company’s stock after buying an additional 4,271 shares during the period. NorthCrest Asset Manangement LLC’s holdings in GE Aerospace were worth $1,326,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GE. Brighton Jones LLC grew its stake in shares of GE Aerospace by 25.3% during the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company’s stock valued at $2,003,000 after purchasing an additional 2,421 shares during the period. Revolve Wealth Partners LLC grew its stake in shares of GE Aerospace by 7.1% during the 4th 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 during the period. Bogart Wealth LLC grew its stake in shares of GE Aerospace by 23.0% during the 4th quarter. Bogart Wealth LLC now owns 535 shares of the company’s stock valued at $89,000 after purchasing an additional 100 shares during the period. Vontobel Holding Ltd. grew its stake in shares of GE Aerospace by 40.9% during the 4th quarter. Vontobel Holding Ltd. now owns 22,068 shares of the company’s stock valued at $3,681,000 after purchasing an additional 6,404 shares during the period. Finally, Banque Pictet & Cie SA grew its stake in shares of GE Aerospace by 53.8% during the 4th quarter. Banque Pictet & Cie SA now owns 6,484 shares of the company’s stock valued at $1,081,000 after purchasing an additional 2,268 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of recent research reports. Citigroup cut their price target on GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Northcoast Research downgraded GE Aerospace from a “buy” rating to a “neutral” rating in a research note 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 note on Wednesday, April 23rd. Redburn Atlantic assumed coverage on GE Aerospace in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. Finally, Wells Fargo & Company boosted their price objective on GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Two investment 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, the stock has an average rating of “Moderate Buy” and an average price target of $221.15.

Insiders Place Their Bets

In other 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 completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction that occurred on 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 owns 8,805 shares of the company’s stock, 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. 0.21% of the stock is currently owned by corporate insiders.

GE Aerospace Trading Down 1.6%

GE stock opened at $236.07 on Friday. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $257.47. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The company has a market capitalization of $251.74 billion, a price-to-earnings ratio of 39.41, a PEG ratio of 2.59 and a beta of 1.38. The business has a 50 day simple moving average of $216.42 and a two-hundred day simple moving average of $198.36.

GE Aerospace (NYSE:GE) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.20. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. Research analysts anticipate that GE Aerospace will post 5.4 EPS 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.