GE Aerospace (NYSE:GE) Shares Sold by Cornerstone Advisory LLC

Cornerstone Advisory LLC decreased its position in GE Aerospace (NYSE:GE) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,060 shares of the company’s stock after selling 50 shares during the period. Cornerstone Advisory LLC’s holdings in GE Aerospace were worth $344,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GE. New Age Alpha Advisors LLC grew its holdings in GE Aerospace by 133.3% in the fourth 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 period. Hager Investment Management Services LLC purchased a new position in shares of GE Aerospace during the 4th quarter valued at approximately $27,000. Sumitomo Mitsui Financial Group Inc. acquired a new stake in GE Aerospace in the 4th quarter valued at $28,000. CBIZ Investment Advisory Services LLC acquired a new stake in GE Aerospace in the 4th quarter valued at $29,000. Finally, Picton Mahoney Asset Management increased its holdings in GE Aerospace by 62.4% in the 4th quarter. Picton Mahoney Asset Management now owns 177 shares of the company’s stock worth $30,000 after acquiring an additional 68 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on GE. Royal Bank of Canada reaffirmed an “outperform” rating and set a $220.00 price objective on shares of GE Aerospace in a report on Wednesday, April 23rd. Redburn Atlantic assumed coverage on shares of GE Aerospace in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on GE Aerospace from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Citigroup reduced 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. Finally, Bank of America raised their target price on GE Aerospace from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $216.92.

GE Aerospace Price Performance

NYSE:GE opened at $230.16 on Friday. GE Aerospace has a one year low of $150.20 and a one year high of $237.30. The stock has a market cap of $245.44 billion, a PE ratio of 38.42, a P/E/G ratio of 2.59 and a beta of 1.31. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The stock has a 50 day moving average price of $201.12 and a 200 day moving average price of $191.16.

GE Aerospace (NYSE:GE) last issued its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) 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 business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. Equities research analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction on Tuesday, April 29th. The stock was 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 in the company, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the sale, the vice president now owns 11,540 shares of the company’s stock, valued at approximately $2,270,264.20. This 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 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.