Foster Group Inc. Buys 509 Shares of GE Aerospace (NYSE:GE)

Foster Group Inc. boosted its stake in shares of GE Aerospace (NYSE:GE) by 32.1% in the first quarter, HoldingsChannel reports. The firm owned 2,096 shares of the company’s stock after purchasing an additional 509 shares during the quarter. Foster Group Inc.’s holdings in GE Aerospace were worth $420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC boosted its position in GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock worth $25,000 after purchasing an additional 84 shares during the period. Hager Investment Management Services LLC bought a new position in GE Aerospace during the fourth quarter worth $27,000. Sumitomo Mitsui Financial Group Inc. bought a new position in GE Aerospace during the fourth quarter worth $28,000. Putney Financial Group LLC bought a new position in GE Aerospace during the fourth quarter worth $28,000. Finally, CBIZ Investment Advisory Services LLC bought a new position in GE Aerospace during the fourth quarter worth $29,000. 74.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP Robert M. Giglietti sold 4,104 shares of the business’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following the sale, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their ownership of the stock. The transaction 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 dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the sale, the senior vice president now owns 8,805 shares in the company, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of research reports. Northcoast Research downgraded GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Citigroup dropped their target price 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 lifted their target price on GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Redburn Atlantic initiated coverage on GE Aerospace in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price for the company. Finally, Royal Bank of Canada lifted their target price on GE Aerospace from $220.00 to $275.00 and gave the stock an “outperform” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $221.15.

GE Aerospace Stock Up 0.3%

GE stock opened at $251.73 on Friday. The company has a market cap of $268.44 billion, a PE ratio of 42.03, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. The business has a 50-day simple moving average of $208.91 and a 200 day simple moving average of $195.55. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $253.42. 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 earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping 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 22.19% and a net margin of 14.31%. Sell-side analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

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.