Bouvel Investment Partners LLC Cuts Position in GE Aerospace (NYSE:GE)

Bouvel Investment Partners LLC lessened its holdings in GE Aerospace (NYSE:GE) by 1.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 24,381 shares of the company’s stock after selling 241 shares during the quarter. GE Aerospace comprises approximately 1.9% of Bouvel Investment Partners LLC’s holdings, making the stock its 17th biggest position. Bouvel Investment Partners LLC’s holdings in GE Aerospace were worth $4,598,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GE. New Age Alpha Advisors LLC raised its holdings in GE Aerospace by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock valued at $25,000 after acquiring an additional 84 shares during the period. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of GE Aerospace in the fourth quarter worth $28,000. Putney Financial Group LLC bought a new position in shares of GE Aerospace in the fourth quarter worth $28,000. CBIZ Investment Advisory Services LLC bought a new position in shares of GE Aerospace in the fourth quarter worth $29,000. Finally, Picton Mahoney Asset Management increased 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 during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Activity at GE Aerospace

In related news, 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 transaction, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the business’s stock in a transaction dated Tuesday, April 29th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. UBS Group increased their target price on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Citigroup reduced their target price 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. Northcoast Research cut GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Royal Bank of Canada set a $275.00 price target on shares of GE Aerospace and gave the company an “outperform” rating in a research report on Tuesday, June 3rd. Finally, Redburn Atlantic started 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. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, GE Aerospace presently has an average rating of “Moderate Buy” and a consensus target price of $221.15.

GE Aerospace Stock Down 1.6%

GE opened at $236.07 on Friday. The firm has a 50-day simple moving average of $216.42 and a two-hundred day simple moving average of $198.36. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $257.47. The company has a market capitalization of $251.74 billion, a PE ratio of 39.41, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. 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 (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 net margin of 14.31% and a return on equity of 22.19%. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. Analysts forecast that GE Aerospace will post 5.4 earnings per share 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.