GE Aerospace (NYSE:GE) Shares Sold by Arizona State Retirement System

Arizona State Retirement System decreased its position in GE Aerospace (NYSE:GE - Free Report) by 1.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 310,532 shares of the company's stock after selling 3,822 shares during the period. Arizona State Retirement System's holdings in GE Aerospace were worth $62,153,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC boosted its holdings in GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after purchasing an additional 84 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. acquired a new position in GE Aerospace in the 4th quarter valued at about $28,000. Putney Financial Group LLC acquired a new position in GE Aerospace in the 4th quarter valued at about $28,000. CBIZ Investment Advisory Services LLC acquired a new position in GE Aerospace in the 4th quarter valued at about $29,000. Finally, Copia Wealth Management boosted its holdings 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 purchasing an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

Insider Activity

In other news, VP Robert M. Giglietti sold 4,104 shares of the firm'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 transaction, the vice president directly owned 11,540 shares of the company's stock, valued at $2,270,264.20. This trade represents a 26.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $321,473.34. Following the completion of the transaction, the senior vice president directly owned 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on GE shares. Citigroup boosted their target price on shares of GE Aerospace from $227.00 to $296.00 and gave the company a "buy" rating in a report on Monday. Wells Fargo & Company upped their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. UBS Group upped their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Royal Bank Of Canada set a $275.00 price objective on shares of GE Aerospace and gave the stock an "outperform" rating in a report on Tuesday, June 3rd. Finally, Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, GE Aerospace presently has a consensus rating of "Moderate Buy" and an average price target of $229.50.

GE Aerospace Stock Performance

NYSE:GE traded up $2.55 during trading hours on Tuesday, reaching $264.89. 9,390,092 shares of the company's stock were exchanged, compared to its average volume of 5,570,846. The firm has a market capitalization of $282.48 billion, a price-to-earnings ratio of 41.20, a P/E/G ratio of 3.06 and a beta of 1.37. The company has a 50-day moving average of $240.24 and a 200 day moving average of $209.68. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $264.94.

GE Aerospace (NYSE:GE - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.29 by $0.20. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The company had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.06 billion. Research analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.54%. GE Aerospace's dividend payout ratio (DPR) is 22.40%.

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.