Fortitude Advisory Group L.L.C. Has $377,000 Holdings in GE Aerospace (NYSE:GE)

Fortitude Advisory Group L.L.C. lessened its stake in GE Aerospace (NYSE:GE) by 4.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,068 shares of the company’s stock after selling 91 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in GE Aerospace were worth $377,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of GE Aerospace by 25.3% in the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company’s stock valued at $2,003,000 after buying an additional 2,421 shares during the period. Revolve Wealth Partners LLC lifted its holdings in GE Aerospace by 7.1% during 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 in the last quarter. Vontobel Holding Ltd. grew its stake in GE Aerospace by 40.9% in the fourth quarter. Vontobel Holding Ltd. now owns 22,068 shares of the company’s stock valued at $3,681,000 after acquiring an additional 6,404 shares during the period. Nations Financial Group Inc. IA ADV grew its stake in GE Aerospace by 9.7% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 2,528 shares of the company’s stock valued at $422,000 after acquiring an additional 223 shares during the period. Finally, Principal Securities Inc. increased its holdings in shares of GE Aerospace by 57.0% in the fourth quarter. Principal Securities Inc. now owns 17,093 shares of the company’s stock worth $2,851,000 after acquiring an additional 6,207 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

GE Aerospace Trading Down 0.1%

Shares of NYSE:GE opened at $236.38 on Tuesday. The company’s 50-day moving average price is $217.77 and its two-hundred day moving average price is $198.86. GE Aerospace has a one year low of $150.20 and a one 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 stock has a market capitalization of $252.07 billion, a PE ratio of 39.46, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38.

GE Aerospace (NYSE:GE) last released its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $9.06 billion. On average, equities analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

Insider Transactions at GE Aerospace

In related news, VP Robert M. Giglietti sold 4,104 shares of the firm’s stock in a transaction dated 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 sale, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the business’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 value of $321,473.34. Following the transaction, the senior vice president now directly owns 8,805 shares in the company, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GE. Royal Bank of Canada set a $275.00 price objective on GE Aerospace and gave the company an “outperform” rating in a research report on Tuesday, June 3rd. Northcoast Research cut shares of GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Wells Fargo & Company increased their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Citigroup cut their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, UBS Group increased their target price on GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $221.15.

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.