Spectrum Asset Management Inc. NB CA Invests $222,000 in GE Aerospace (NYSE:GE)

Spectrum Asset Management Inc. NB CA purchased a new stake in shares of GE Aerospace (NYSE:GE) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 1,105 shares of the company’s stock, valued at approximately $222,000.

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

Insider Transactions at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction that occurred on 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 directly owns 8,805 shares of the company’s stock, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace 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 transaction, the vice president now owns 11,540 shares in the company, valued at $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

GE Aerospace Stock Performance

Shares of GE stock opened at $245.38 on Thursday. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $257.47. 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 firm has a market cap of $261.67 billion, a price-to-earnings ratio of 40.97, a PEG ratio of 2.59 and a beta of 1.38. The stock’s 50-day moving average is $213.64 and its two-hundred day moving average is $197.47.

GE Aerospace (NYSE:GE) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. Analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GE shares. Wells Fargo & Company boosted their target price on GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Northcoast Research downgraded GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Royal Bank of Canada set a $275.00 target price on shares of GE Aerospace and gave the stock an “outperform” rating in a report on Tuesday, June 3rd. UBS Group boosted their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Finally, Citigroup reduced their price objective on GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $221.15.

GE Aerospace 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.