Fjarde AP Fonden Fourth Swedish National Pension Fund Cuts Position in GE Aerospace (NYSE:GE)

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in GE Aerospace by **18.6%**, holding shares worth **$26.19 million** following the sale of 29,900 shares.
• In the **1st quarter**, significant investments in GE Aerospace included a **new position** by GQG Partners worth approximately **$1.61 billion** and a **23,611.7%** increase in holdings by GAMMA Investing.
• GE Aerospace reported quarterly earnings of **$1.66 EPS**, surpassing estimates, and announced a **$0.36 quarterly dividend**, which corresponds to an annual yield of **0.5%**.

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its holdings in GE Aerospace (NYSE:GE - Free Report) by 18.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 130,865 shares of the company's stock after selling 29,900 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in GE Aerospace were worth $26,193,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GE. Brighton Jones LLC boosted its stake in shares of GE Aerospace by 25.3% in the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock worth $2,003,000 after acquiring an additional 2,421 shares during the period. Revolve Wealth Partners LLC boosted its stake in GE Aerospace by 7.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock valued at $375,000 after buying an additional 150 shares during the last quarter. XTX Topco Ltd boosted its stake in GE Aerospace by 163.8% during the fourth quarter. XTX Topco Ltd now owns 3,355 shares of the company's stock valued at $560,000 after buying an additional 2,083 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super bought a new position in GE Aerospace during the fourth quarter valued at approximately $257,000. Finally, Bridgewater Associates LP boosted its stake in GE Aerospace by 8.4% during the fourth quarter. Bridgewater Associates LP now owns 222,843 shares of the company's stock valued at $37,168,000 after buying an additional 17,228 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Wells Fargo & Company increased their price target on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. UBS Group increased their price target on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Barclays increased their price target on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" 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 company. Based on data from MarketBeat.com, GE Aerospace presently has an average rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Trading Up 0.4%

Shares of NYSE GE traded up $1.00 during midday trading on Thursday, hitting $269.86. The company's stock had a trading volume of 4,476,768 shares, compared to its average volume of 5,276,676. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The business's 50 day moving average is $257.20 and its two-hundred day moving average is $223.67. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $281.50. The firm has a market cap of $286.17 billion, a P/E ratio of 37.64, a price-to-earnings-growth ratio of 2.89 and a beta of 1.44.

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

GE Aerospace Dividend Announcement

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

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.