GE Aerospace (NYSE:GE) Shares Acquired by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC increased its stake in GE Aerospace (NYSE:GE) by 23.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 69,365 shares of the company’s stock after buying an additional 13,009 shares during the quarter. Exchange Traded Concepts LLC’s holdings in GE Aerospace were worth $13,883,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Prentice Wealth Management LLC grew its stake in shares of GE Aerospace by 5.3% in the first quarter. Prentice Wealth Management LLC now owns 2,664 shares of the company’s stock valued at $533,000 after buying an additional 134 shares in the last quarter. Ritholtz Wealth Management grew its stake in GE Aerospace by 7.8% during the 1st quarter. Ritholtz Wealth Management now owns 22,395 shares of the company’s stock valued at $4,482,000 after purchasing an additional 1,616 shares in the last quarter. Dynamic Advisor Solutions LLC grew its stake in GE Aerospace by 3.0% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 18,301 shares of the company’s stock valued at $3,663,000 after purchasing an additional 532 shares in the last quarter. Dohj LLC grew its stake in GE Aerospace by 100.0% during the 1st quarter. Dohj LLC now owns 9,244 shares of the company’s stock valued at $1,850,000 after purchasing an additional 4,621 shares in the last quarter. Finally, Lakeridge Wealth Management LLC grew its stake in GE Aerospace by 14.5% during the 1st quarter. Lakeridge Wealth Management LLC now owns 2,386 shares of the company’s stock valued at $478,000 after purchasing an additional 302 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

GE Aerospace Stock Down 1.6%

Shares of GE Aerospace stock opened at $236.07 on Friday. The business’s fifty day moving average price is $216.42 and its two-hundred day moving average price is $198.36. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The company has a market capitalization of $251.74 billion, a P/E ratio of 39.41, a PEG ratio of 2.59 and a beta of 1.38. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $257.47.

GE Aerospace (NYSE:GE) last announced its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 22.19% and a net margin of 14.31%. As a group, research analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

Wall Street Analyst Weigh In

GE has been the subject of a number of recent analyst reports. Northcoast Research lowered GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Citigroup lowered their price objective on GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. UBS Group raised their price objective on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Redburn Atlantic initiated coverage on GE Aerospace in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. Finally, 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 research note on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, GE Aerospace presently has a consensus rating of “Moderate Buy” and an average price target of $221.15.

Insider Buying and Selling at GE Aerospace

In other news, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction on Thursday, April 24th. The stock was 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 trade represents a 26.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the transaction, the senior vice president now 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 disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

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.