Matthew Goff Investment Advisor LLC Sells 342 Shares of GE Aerospace (NYSE:GE)

Matthew Goff Investment Advisor LLC lowered its stake in shares of GE Aerospace (NYSE:GE) by 0.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 38,330 shares of the company’s stock after selling 342 shares during the quarter. GE Aerospace accounts for 1.4% of Matthew Goff Investment Advisor LLC’s holdings, making the stock its 21st largest position. Matthew Goff Investment Advisor LLC’s holdings in GE Aerospace were worth $7,672,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GE. Copia Wealth Management increased its position in GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company’s stock worth $29,000 after purchasing an additional 142 shares during the last quarter. New Age Alpha Advisors LLC grew its stake in shares of GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock worth $25,000 after buying an additional 84 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of GE Aerospace in the 4th quarter worth about $28,000. Putney Financial Group LLC bought a new stake in shares of GE Aerospace in the 4th quarter worth about $28,000. Finally, CBIZ Investment Advisory Services LLC purchased a new stake in shares of GE Aerospace during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Northcoast Research downgraded shares of GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Citigroup dropped their price objective on GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Wells Fargo & Company upped 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. UBS Group lifted their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Finally, Royal Bank Of Canada set a $275.00 target price on shares of GE Aerospace and gave the stock an “outperform” rating in a research note on Tuesday, June 3rd. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $221.15.

GE Aerospace Stock Performance

Shares of GE stock opened at $235.83 on Thursday. The firm has a market cap of $251.48 billion, a price-to-earnings ratio of 36.68, a PEG ratio of 2.84 and a beta of 1.38. The company’s 50 day moving average is $219.70 and its 200 day moving average is $199.37. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $257.47.

GE Aerospace (NYSE:GE) last announced its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.20. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. The business had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.06 billion. On average, sell-side analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

Insider Buying and Selling at GE Aerospace

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 transaction of $321,473.34. Following the completion of the transaction, the senior vice president now directly owns 8,805 shares of the company’s stock, valued at $1,766,899.35. The trade was 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 owned by insiders.

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.