Forsta AP Fonden Sells 15,200 Shares of GE Aerospace (NYSE:GE)

Key Points

• Forsta AP Fonden has reduced its stake in GE Aerospace by 4.7%, now holding 305,425 shares worth approximately $61.13 million, making it the fund's 29th largest investment.
• Several hedge funds, such as Putney Financial and IMA Advisory Services, have recently initiated new positions or increased their stakes in GE Aerospace, contributing to 74.77% of the stock being owned by institutional investors.
• Analysts are optimistic about GE Aerospace, with Barclays and UBS increasing their price targets significantly, while the stock maintains a consensus rating of "Moderate Buy" with an average target price of $232.92.

Forsta AP Fonden decreased its holdings in GE Aerospace (NYSE:GE - Free Report) by 4.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 305,425 shares of the company's stock after selling 15,200 shares during the period. GE Aerospace makes up approximately 0.5% of Forsta AP Fonden's investment portfolio, making the stock its 29th largest position. Forsta AP Fonden's holdings in GE Aerospace were worth $61,131,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in GE. Vanguard Group Inc. lifted its position in shares of GE Aerospace by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company's stock worth $18,115,065,000 after buying an additional 692,124 shares during the last quarter. Northern Trust Corp increased its position in GE Aerospace by 5.8% during the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock worth $1,675,717,000 after acquiring an additional 553,104 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of GE Aerospace by 11.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 7,551,038 shares of the company's stock valued at $1,259,438,000 after purchasing an additional 781,574 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in GE Aerospace by 9.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,184,973 shares of the company's stock worth $1,198,382,000 after buying an additional 628,458 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of GE Aerospace by 3.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,946,051 shares of the company's stock valued at $1,390,252,000 after acquiring an additional 213,234 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Price Performance

Shares of GE Aerospace stock traded up $0.33 during trading on Monday, hitting $275.34. 1,455,285 shares of the company's stock traded hands, compared to its average volume of 6,087,330. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $277.18. The company has a market cap of $291.98 billion, a PE ratio of 38.42, a PEG ratio of 2.96 and a beta of 1.44. The firm's fifty day moving average price is $255.31 and its 200 day moving average price is $221.88. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly 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. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same period last year, the firm posted $1.20 EPS. The firm's quarterly revenue was up 21.2% on a year-over-year basis. Analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Royal Bank Of Canada raised their price target on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Citigroup reaffirmed a "buy" rating and set a $296.00 price target (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Finally, 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. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, GE Aerospace presently has a consensus rating of "Moderate Buy" and an average target price of $232.92.

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.