UMB Bank n.a. Increases Stock Position in GE Aerospace (NYSE:GE)

UMB Bank n.a. increased its position in shares of GE Aerospace (NYSE:GE) by 6.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,305 shares of the company’s stock after buying an additional 545 shares during the period. UMB Bank n.a.’s holdings in GE Aerospace were worth $1,862,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Sendero Wealth Management LLC lifted its holdings in GE Aerospace by 526.6% during the first quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company’s stock valued at $3,004,000 after purchasing an additional 12,613 shares in the last quarter. Chung Wu Investment Group LLC purchased a new position in GE Aerospace during the fourth quarter valued at $795,000. National Bank of Canada FI lifted its holdings in GE Aerospace by 2.9% during the fourth quarter. National Bank of Canada FI now owns 1,064,417 shares of the company’s stock valued at $177,535,000 after purchasing an additional 29,844 shares in the last quarter. National Pension Service lifted its holdings in GE Aerospace by 1.7% during the fourth quarter. National Pension Service now owns 2,254,637 shares of the company’s stock valued at $376,051,000 after purchasing an additional 37,884 shares in the last quarter. Finally, FourThought Financial Partners LLC purchased a new position in GE Aerospace during the fourth quarter valued at $507,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on GE shares. Northcoast Research downgraded shares of GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Redburn Atlantic began coverage on shares of GE Aerospace in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target on the stock. UBS Group raised 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. Wells Fargo & Company raised their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Finally, Citigroup decreased their price target on shares of 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 equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.15.

Insiders Place Their Bets

In other news, SVP Mohamed Ali sold 1,602 shares of the business’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 directly owns 8,805 shares of the company’s stock, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the business’s stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the completion of the sale, the vice president now directly 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. 0.21% of the stock is owned by insiders.

GE Aerospace Price Performance

Shares of GE stock opened at $251.42 on Tuesday. 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’s 50-day moving average is $210.97 and its two-hundred day moving average is $196.83. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $257.47. The company has a market capitalization of $268.11 billion, a PE ratio of 41.97, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38.

GE Aerospace (NYSE:GE) last issued its earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.20. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The company 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.

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.