Institute for Wealth Management LLC. Lowers Stock Holdings in GE Aerospace (NYSE:GE)

Institute for Wealth Management LLC. reduced its position in GE Aerospace (NYSE:GE) by 0.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,054 shares of the company’s stock after selling 57 shares during the quarter. Institute for Wealth Management LLC.’s holdings in GE Aerospace were worth $2,212,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GE. Vanguard Group Inc. raised its holdings in shares of GE Aerospace by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company’s stock valued at $14,980,297,000 after acquiring an additional 410,172 shares in the last quarter. FMR LLC increased its position in shares of GE Aerospace by 1.5% in the fourth quarter. FMR LLC now owns 66,823,968 shares of the company’s stock worth $11,145,570,000 after purchasing an additional 965,012 shares during the last quarter. Geode Capital Management LLC raised its stake in GE Aerospace by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company’s stock valued at $3,846,587,000 after purchasing an additional 529,457 shares in the last quarter. Norges Bank purchased a new stake in GE Aerospace in the fourth quarter valued at approximately $2,375,439,000. Finally, Northern Trust Corp lifted its position in GE Aerospace by 5.8% during the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company’s stock valued at $1,675,717,000 after purchasing an additional 553,104 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Trading Up 0.0%

NYSE GE opened at $235.83 on Thursday. The firm has a market cap of $251.48 billion, a PE ratio of 36.68, a price-to-earnings-growth ratio of 2.84 and a beta of 1.38. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $257.47. The stock has a 50-day moving average of $219.70 and a 200-day moving average of $199.37. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90.

GE Aerospace (NYSE:GE) last announced its quarterly earnings data 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 firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. As a group, sell-side analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GE shares. Wells Fargo & Company increased their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Royal Bank Of Canada set a $275.00 target price on GE Aerospace and gave the company an “outperform” rating in a research note on Tuesday, June 3rd. Citigroup lowered their price target on GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Northcoast Research lowered GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Finally, UBS Group increased 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. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $221.15.

Insider Buying and Selling

In related news, VP Robert M. Giglietti sold 4,104 shares of the firm’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the sale, the vice president now directly owns 11,540 shares of the company’s stock, valued at $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Mohamed Ali sold 1,602 shares of the business’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 owns 8,805 shares in the company, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

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.