TruWealth Advisors LLC Buys New Position in GE Aerospace (NYSE:GE)

TruWealth Advisors LLC purchased a new position in shares of GE Aerospace (NYSE:GE) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,001 shares of the company’s stock, valued at approximately $200,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Truvestments Capital LLC raised its position in GE Aerospace by 26.2% in the fourth quarter. Truvestments Capital LLC now owns 236 shares of the company’s stock worth $39,000 after acquiring an additional 49 shares during the period. Ritter Daniher Financial Advisory LLC DE raised its stake in shares of GE Aerospace by 17.6% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company’s stock valued at $56,000 after buying an additional 50 shares during the period. Ballast Advisors LLC lifted its holdings in GE Aerospace by 2.5% during the fourth quarter. Ballast Advisors LLC now owns 2,093 shares of the company’s stock valued at $349,000 after purchasing an additional 51 shares during the last quarter. Blue Barn Wealth LLC raised its holdings in GE Aerospace by 3.8% during the 4th quarter. Blue Barn Wealth LLC now owns 1,466 shares of the company’s stock valued at $245,000 after acquiring an additional 54 shares during the period. Finally, First Heartland Consultants Inc. lifted its holdings in shares of GE Aerospace by 1.2% in the fourth quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company’s stock worth $789,000 after buying an additional 54 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GE has been the subject of a number of recent analyst reports. Redburn Atlantic initiated coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target for the company. Wells Fargo & Company raised their price objective on GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Royal Bank of Canada increased their target price on GE Aerospace from $220.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday. Northcoast Research lowered GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Finally, UBS Group boosted their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research 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 company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $221.15.

Insider Activity at GE Aerospace

In other news, SVP Mohamed Ali sold 1,602 shares of the firm’s 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction of $807,379.92. Following the sale, the vice president now owns 11,540 shares in the company, valued at $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 company insiders.

GE Aerospace Price Performance

NYSE GE opened at $250.97 on Thursday. GE Aerospace has a one year low of $150.20 and a one year high of $253.06. 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 of $207.88 and a 200 day moving average of $195.04. The company has a market capitalization of $267.63 billion, a price-to-earnings ratio of 41.90, a PEG ratio of 2.59 and a beta of 1.38.

GE Aerospace (NYSE:GE) last posted its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating 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 company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. On average, sell-side analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

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.