AMF Tjanstepension AB Cuts Stake in GE Aerospace (NYSE:GE)

AMF Tjanstepension AB lowered its stake in GE Aerospace (NYSE:GE - Free Report) by 13.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 398,552 shares of the company's stock after selling 60,696 shares during the quarter. AMF Tjanstepension AB's holdings in GE Aerospace were worth $79,771,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Putney Financial Group LLC bought a new position in GE Aerospace in the fourth quarter worth about $28,000. IMA Advisory Services Inc. purchased a new position in shares of GE Aerospace during the 1st quarter worth approximately $28,000. 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 acquiring an additional 142 shares in the last quarter. First Pacific Financial lifted its stake in shares of GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after purchasing an additional 52 shares during the period. Finally, O Brien Wealth Partners LLC purchased a new stake in GE Aerospace in the first quarter worth $33,000. Institutional investors own 74.77% of the company's stock.

GE Aerospace Price Performance

NYSE GE opened at $271.89 on Friday. The stock has a market capitalization of $288.33 billion, a price-to-earnings ratio of 37.92, a PEG ratio of 2.93 and a beta of 1.44. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $277.00. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The business's fifty day moving average price is $254.73 and its 200-day moving average price is $220.90.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.23. The company had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm's quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.20 earnings per share. On average, equities analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is currently 20.08%.

Wall Street Analysts Forecast Growth

GE has been the subject of several research reports. Citigroup reiterated a "buy" rating and issued a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Wells Fargo & Company lifted their price objective on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Barclays increased their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada upped their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $232.92.

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.

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