Marino Stram & Associates LLC Raises Stake in GE Aerospace (NYSE:GE)

Marino Stram & Associates LLC increased its stake in GE Aerospace (NYSE:GE) by 21.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,615 shares of the company’s stock after buying an additional 290 shares during the quarter. Marino Stram & Associates LLC’s holdings in GE Aerospace were worth $323,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sendero Wealth Management LLC raised its holdings in shares of GE Aerospace by 526.6% during the first quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company’s stock worth $3,004,000 after purchasing an additional 12,613 shares during the period. Chung Wu Investment Group LLC bought a new position in GE Aerospace in the 4th quarter valued at about $795,000. National Bank of Canada FI boosted its holdings in shares of GE Aerospace by 2.9% in the fourth quarter. National Bank of Canada FI now owns 1,064,417 shares of the company’s stock valued at $177,535,000 after acquiring an additional 29,844 shares in the last quarter. National Pension Service increased its position in shares of GE Aerospace by 1.7% during the 4th quarter. National Pension Service now owns 2,254,637 shares of the company’s stock valued at $376,051,000 after purchasing an additional 37,884 shares during the period. Finally, FourThought Financial Partners LLC acquired a new stake in shares of GE Aerospace in the fourth quarter valued at $507,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Down 0.4%

NYSE GE opened at $235.49 on Wednesday. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $257.47. The company has a market capitalization of $251.12 billion, a price-to-earnings ratio of 36.62, a PEG ratio of 2.85 and a beta of 1.38. The stock’s 50 day moving average is $218.73 and its two-hundred day moving average is $199.12. 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 issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.20. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. The company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.06 billion. Equities analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Mohamed Ali sold 1,602 shares of the company’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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the company’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 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 owned by corporate insiders.

Analyst Ratings Changes

GE has been the subject of a number of research reports. Royal Bank Of Canada set a $275.00 target price on shares of GE Aerospace and gave the stock an “outperform” rating in a report on Tuesday, June 3rd. Citigroup cut 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. 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 research note on Wednesday, April 23rd. Redburn Atlantic assumed coverage on GE Aerospace in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target on the stock. Finally, Northcoast Research cut GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, GE Aerospace has an average rating of “Moderate Buy” and an average price target of $221.15.

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.