KLP Kapitalforvaltning AS Decreases Holdings in GE Aerospace (NYSE:GE)

KLP Kapitalforvaltning AS decreased its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 329,013 shares of the company's stock after selling 2,200 shares during the period. KLP Kapitalforvaltning AS's holdings in GE Aerospace were worth $65,950,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Copia Wealth Management boosted its holdings 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. New Age Alpha Advisors LLC grew its holdings in GE Aerospace by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after acquiring an additional 84 shares during the last quarter. O Brien Wealth Partners LLC bought a new stake in shares of GE Aerospace during the first quarter worth $33,000. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of GE Aerospace during the fourth quarter worth about $28,000. Finally, First Pacific Financial increased its position in shares of GE Aerospace by 46.0% during 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 last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

GE Aerospace Trading Up 1.5%

GE Aerospace stock traded up $4.12 during trading hours on Friday, hitting $272.13. The company had a trading volume of 1,969,076 shares, compared to its average volume of 6,239,359. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $272.80. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The company has a 50-day moving average price of $247.59 and a two-hundred day moving average price of $214.32. The firm has a market cap of $288.58 billion, a P/E ratio of 37.93, a P/E/G ratio of 3.01 and a beta of 1.37.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The business 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 firm posted $1.20 earnings per share. The business's quarterly revenue was up 21.2% on a year-over-year basis. On average, sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.53%. GE Aerospace's payout ratio is 20.08%.

Wall Street Analyst Weigh In

GE has been the topic of a number of analyst reports. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Royal Bank Of Canada lifted their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Barclays increased their price target on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday. Citigroup reissued a "buy" rating and set a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Finally, Wells Fargo & Company increased their price objective on GE Aerospace from $34.00 to $38.00 in a report on Wednesday. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, GE Aerospace currently has an average rating of "Moderate Buy" and an average price target of $232.92.

Insider Buying and Selling

In related news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the sale, the senior vice president owned 8,805 shares of the company's stock, valued at $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.21% of the company's stock.

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.