Sterling Investment Management LLC Lowers Stock Holdings in GE Aerospace (NYSE:GE)

Sterling Investment Management LLC decreased its position in shares of GE Aerospace (NYSE:GE) by 0.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,665 shares of the company’s stock after selling 76 shares during the period. GE Aerospace makes up approximately 1.8% of Sterling Investment Management LLC’s holdings, making the stock its 19th largest holding. Sterling Investment Management LLC’s holdings in GE Aerospace were worth $2,535,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in GE Aerospace by 25.3% during the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company’s stock valued at $2,003,000 after purchasing an additional 2,421 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of GE Aerospace by 7.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company’s stock worth $375,000 after purchasing an additional 150 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of GE Aerospace in the 4th quarter worth approximately $228,000. Stonebridge Financial Group LLC bought a new stake in shares of GE Aerospace in the 4th quarter worth approximately $169,000. Finally, Sovran Advisors LLC bought a new stake in shares of GE Aerospace in the 4th quarter worth approximately $931,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada set a $275.00 price objective on shares of GE Aerospace and gave the stock an “outperform” rating in a report on Tuesday, June 3rd. Citigroup decreased their target price on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Redburn Atlantic initiated coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price for the company. Wells Fargo & Company increased their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Finally, UBS Group increased their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, GE Aerospace currently has an average rating of “Moderate Buy” and an average price target of $221.15.

GE Aerospace Stock Performance

GE Aerospace stock opened at $245.38 on Thursday. 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 firm has a market capitalization of $261.67 billion, a P/E ratio of 40.97, a price-to-earnings-growth 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. The company’s 50-day moving average is $213.64 and its 200 day moving average is $197.47.

GE Aerospace (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.20. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. Research analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

Insider Activity

In related news, VP Robert M. Giglietti sold 4,104 shares of the firm’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the transaction, the vice president now directly owns 11,540 shares of the company’s stock, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the firm’s 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 transaction, the senior vice president now directly owns 8,805 shares in the company, valued at $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. Company insiders own 0.21% of the company’s stock.

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.