GE Aerospace (NYSE:GE) Shares Sold by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC reduced its stake in shares of GE Aerospace (NYSE:GE) by 16.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 533 shares of the company’s stock after selling 107 shares during the quarter. Princeton Global Asset Management LLC’s holdings in GE Aerospace were worth $107,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Impact Capital Partners LLC raised its stake in GE Aerospace by 39.1% during the 1st quarter. Impact Capital Partners LLC now owns 2,741 shares of the company’s stock worth $549,000 after acquiring an additional 771 shares in the last quarter. Disciplined Investments LLC increased its stake in GE Aerospace by 9.2% in the first quarter. Disciplined Investments LLC now owns 1,316 shares of the company’s stock valued at $263,000 after purchasing an additional 111 shares during the period. First National Corp MA ADV acquired a new position in GE Aerospace in the first quarter valued at $206,000. SeaCrest Wealth Management LLC increased its stake in GE Aerospace by 1.3% in the first quarter. SeaCrest Wealth Management LLC now owns 14,215 shares of the company’s stock valued at $2,845,000 after purchasing an additional 178 shares during the period. Finally, Procyon Advisors LLC increased its stake in GE Aerospace by 32.9% in the first quarter. Procyon Advisors LLC now owns 2,992 shares of the company’s stock valued at $599,000 after purchasing an additional 741 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

GE Aerospace Stock Up 1.5%

Shares of NYSE:GE opened at $255.71 on Friday. The company has a market cap of $272.69 billion, a price-to-earnings ratio of 42.69, a PEG ratio of 2.59 and a beta of 1.38. The firm’s 50-day simple moving average is $209.94 and its 200-day simple moving average is $196.21. 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 fifty-two week low of $150.20 and a fifty-two week high of $257.47.

GE Aerospace (NYSE:GE) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.20. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. As a group, equities research analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on GE. UBS Group lifted their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Wells Fargo & Company lifted their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. 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. Citigroup dropped their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, Northcoast Research downgraded shares of GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $221.15.

Insider Buying and Selling

In related news, VP Robert M. Giglietti sold 4,104 shares of the business’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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Mohamed Ali sold 1,602 shares of the business’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 sale, 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 disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

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.