Forsta AP Fonden Has $61.13 Million Holdings in GE Aerospace (NYSE:GE)

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

Several other hedge funds have also recently added to or reduced their stakes in GE. Putney Financial Group LLC acquired a new position in GE Aerospace in the fourth quarter valued at about $28,000. IMA Advisory Services Inc. bought a new stake in GE Aerospace in the 1st quarter valued at $28,000. Copia Wealth Management lifted its position in GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after acquiring an additional 142 shares in the last quarter. First Pacific Financial boosted its stake in GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after purchasing an additional 52 shares during the period. Finally, O Brien Wealth Partners LLC acquired a new position in GE Aerospace in the 1st quarter worth $33,000. Institutional investors and hedge funds own 74.77% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GE shares. Barclays increased their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. UBS Group lifted their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. Citigroup reissued a "buy" rating and set a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Finally, Wells Fargo & Company raised their target price on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, GE Aerospace presently has an average rating of "Moderate Buy" and a consensus target price of $232.92.

GE Aerospace Stock Performance

Shares of GE stock opened at $271.89 on Friday. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $277.00. The company 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. The company has a 50-day simple moving average of $254.73 and a 200 day simple moving average of $220.90. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping 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 business posted $1.20 earnings per share. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. On average, sell-side analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

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

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.

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