Investment Partners Asset Management Inc. Grows Stock Holdings in GE Aerospace (NYSE:GE)

Investment Partners Asset Management Inc. boosted its stake in shares of GE Aerospace (NYSE:GE) by 19.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,288 shares of the company’s stock after buying an additional 536 shares during the quarter. Investment Partners Asset Management Inc.’s holdings in GE Aerospace were worth $658,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in GE Aerospace during the fourth quarter worth $2,375,439,000. GAMMA Investing LLC increased its position in shares of GE Aerospace by 23,611.7% in the first quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company’s stock valued at $1,013,959,000 after buying an additional 5,044,632 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of GE Aerospace by 87.7% during the 4th quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company’s stock worth $597,412,000 after buying an additional 1,673,365 shares during the last quarter. Invesco Ltd. raised its stake in shares of GE Aerospace by 14.4% during the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company’s stock worth $1,591,970,000 after buying an additional 1,204,910 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of GE Aerospace in the 4th quarter worth about $194,208,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. UBS Group raised their target price 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. Northcoast Research lowered shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Royal Bank of Canada set a $275.00 price objective on shares of GE Aerospace and gave the stock an “outperform” rating in a research note 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 research report on Thursday, April 10th. Finally, Redburn Atlantic assumed coverage on GE Aerospace in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price on the stock. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $221.15.

GE Aerospace Price Performance

GE stock opened at $241.80 on Wednesday. The stock has a market capitalization of $257.85 billion, a price-to-earnings ratio of 40.37, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. 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 has a 52-week low of $150.20 and a 52-week high of $257.47. The stock’s fifty day simple moving average is $212.06 and its 200-day simple moving average is $197.14.

GE Aerospace (NYSE:GE) last released its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.20. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. The firm had revenue of $9.94 billion for 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 year.

Insider Buying and Selling

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction on 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 $1,766,899.35. This trade represents a 15.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the company’s stock in a transaction on 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 owns 11,540 shares of the company’s stock, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

GE Aerospace Company 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.