Relyea Zuckerberg Hanson LLC Increases Stake in GE Aerospace (NYSE:GE)

Relyea Zuckerberg Hanson LLC grew its holdings in GE Aerospace (NYSE:GE) by 4.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,541 shares of the company’s stock after buying an additional 116 shares during the quarter. Relyea Zuckerberg Hanson LLC’s holdings in GE Aerospace were worth $509,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. New Age Alpha Advisors LLC boosted its stake 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 buying an additional 84 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of GE Aerospace in the fourth quarter worth $28,000. Putney Financial Group LLC acquired a new position in shares of GE Aerospace during the fourth quarter worth $28,000. CBIZ Investment Advisory Services LLC acquired a new position in shares of GE Aerospace during the fourth quarter worth $29,000. Finally, Picton Mahoney Asset Management boosted its stake in GE Aerospace by 62.4% in the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the company’s stock valued at $30,000 after acquiring an additional 68 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at GE Aerospace

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 value 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 trade represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction that occurred 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 in the company, valued at $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. 0.21% of the stock is currently owned by corporate insiders.

GE Aerospace Price Performance

Shares of GE Aerospace stock opened at $239.55 on Friday. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $257.47. The stock has a market capitalization of $255.45 billion, a P/E ratio of 39.99, a PEG ratio of 2.59 and a beta of 1.38. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The business’s fifty day moving average price is $215.08 and its 200 day moving average price is $197.88.

GE Aerospace (NYSE:GE) last released 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. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. As a group, research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Royal Bank of Canada set a $275.00 price objective on shares of GE Aerospace and gave the company an “outperform” rating in a research note on Tuesday, June 3rd. Northcoast Research downgraded GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Redburn Atlantic started coverage on GE Aerospace in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target on the stock. Wells Fargo & Company upped their price target on GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Finally, UBS Group upped their price target on GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, GE Aerospace has a consensus rating of “Moderate Buy” and a consensus target price of $221.15.

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.