Essex Savings Bank Raises Stock Holdings in GE Aerospace (NYSE:GE)

Essex Savings Bank increased its holdings in GE Aerospace (NYSE:GE) by 21.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,005 shares of the company’s stock after acquiring an additional 701 shares during the quarter. Essex Savings Bank’s holdings in GE Aerospace were worth $802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Copia Wealth Management raised its position in shares of GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company’s stock worth $29,000 after purchasing an additional 142 shares during the last quarter. New Age Alpha Advisors LLC boosted its position in shares of GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock valued at $25,000 after buying an additional 84 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new stake in GE Aerospace in the 4th quarter worth about $28,000. Putney Financial Group LLC purchased a new position in GE Aerospace in the 4th quarter worth about $28,000. Finally, CBIZ Investment Advisory Services LLC bought a new position in GE Aerospace during the 4th quarter valued at about $29,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GE has been the subject of several research reports. Redburn Atlantic assumed coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. Royal Bank Of Canada set a $275.00 target price on shares of GE Aerospace and gave the company an “outperform” rating in a research note on Tuesday, June 3rd. Northcoast Research cut GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. UBS Group raised their price target on GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company upped their price objective on GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, GE Aerospace presently has an average rating of “Moderate Buy” and an average target price of $221.15.

Insider Buying and Selling

In other 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 sale, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the company’s stock in a transaction that occurred 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 sale, 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 insiders.

GE Aerospace Stock Performance

NYSE:GE opened at $235.49 on Wednesday. The stock has a 50-day simple moving average of $218.73 and a two-hundred day simple moving average of $199.12. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $257.47. The firm has a market capitalization of $251.12 billion, a PE ratio of 36.62, a P/E/G ratio of 2.85 and a beta of 1.38.

GE Aerospace (NYSE:GE) last announced 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. 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 17.63% and a return on equity of 29.15%. Analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

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.