Janney Montgomery Scott LLC Acquires 23,302 Shares of GE Aerospace (NYSE:GE)

Janney Montgomery Scott LLC boosted its holdings in GE Aerospace (NYSE:GE) by 14.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 182,793 shares of the company’s stock after buying an additional 23,302 shares during the quarter. Janney Montgomery Scott LLC’s holdings in GE Aerospace were worth $36,586,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. New Age Alpha Advisors LLC grew its holdings in shares of GE Aerospace by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock valued at $25,000 after purchasing an additional 84 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new position in GE Aerospace in the 4th quarter valued at approximately $28,000. Putney Financial Group LLC acquired a new stake in GE Aerospace in the fourth quarter valued at approximately $28,000. CBIZ Investment Advisory Services LLC bought a new stake in shares of GE Aerospace during the fourth quarter worth $29,000. Finally, Picton Mahoney Asset Management increased its holdings in shares of GE Aerospace by 62.4% during the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the company’s stock worth $30,000 after buying an additional 68 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the transaction, the senior vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction 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 directly 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 disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GE has been the topic of several recent research reports. Northcoast Research downgraded GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Citigroup cut their price target 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. Redburn Atlantic began coverage on GE Aerospace in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective for the company. Wells Fargo & Company lifted their target price 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. Finally, UBS Group upped their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.15.

GE Aerospace Trading Down 0.1%

GE opened at $236.38 on Tuesday. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $257.47. The company has a fifty day moving average of $217.77 and a 200-day moving average of $198.86. The stock has a market cap 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. 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 (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.20. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. On average, 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.