MFG Wealth Management Inc. Sells 6,063 Shares of GE Aerospace (NYSE:GE)

MFG Wealth Management Inc. decreased its holdings in shares of GE Aerospace (NYSE:GE) by 33.4% during the first quarter, HoldingsChannel reports. The institutional investor owned 12,077 shares of the company’s stock after selling 6,063 shares during the period. GE Aerospace accounts for 2.3% of MFG Wealth Management Inc.’s portfolio, making the stock its 13th largest position. MFG Wealth Management Inc.’s holdings in GE Aerospace were worth $2,417,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC lifted its holdings in GE Aerospace by 25.3% during the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company’s stock valued at $2,003,000 after buying an additional 2,421 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of GE Aerospace by 7.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company’s stock valued at $375,000 after acquiring an additional 150 shares in the last quarter. FourThought Financial Partners LLC purchased a new stake in shares of GE Aerospace in the fourth quarter valued at approximately $507,000. Los Angeles Capital Management LLC grew its stake in GE Aerospace by 33.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 165,509 shares of the company’s stock worth $27,605,000 after purchasing an additional 41,521 shares in the last quarter. Finally, FFT Wealth Management LLC bought a new position in GE Aerospace in the fourth quarter worth approximately $338,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GE. Wells Fargo & Company upped 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. Northcoast Research lowered shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Citigroup cut their target price on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. UBS Group upped their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Finally, Royal Bank Of Canada set a $275.00 price objective on shares of GE Aerospace and gave the company an “outperform” rating in a report on Tuesday, June 3rd. Two investment 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.

Insiders Place Their Bets

In related news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction dated 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 sale, the senior vice president now 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the company’s stock in a transaction that occurred on 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 owns 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

GE Aerospace Trading Up 0.4%

GE Aerospace stock opened at $249.86 on Thursday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. The stock has a market cap of $266.45 billion, a PE ratio of 38.86, a price-to-earnings-growth ratio of 3.00 and a beta of 1.38. The stock has a 50-day moving average of $225.79 and a two-hundred day moving average of $201.64. GE Aerospace has a one year low of $150.20 and a one year high of $257.47.

GE Aerospace (NYSE:GE) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.29 by $0.20. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. On average, research analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

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.