Teacher Retirement System of Texas Reduces Position in GE Aerospace (NYSE:GE)

Teacher Retirement System of Texas reduced its position in GE Aerospace (NYSE:GE - Free Report) by 20.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 457,435 shares of the company's stock after selling 114,783 shares during the quarter. Teacher Retirement System of Texas' holdings in GE Aerospace were worth $91,556,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in GE Aerospace in the 4th quarter worth about $2,375,439,000. GAMMA Investing LLC grew its stake in GE Aerospace by 23,611.7% in the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock worth $1,013,959,000 after acquiring an additional 5,044,632 shares in the last quarter. Janus Henderson Group PLC grew its stake in GE Aerospace by 87.7% in the 4th quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock worth $597,412,000 after acquiring an additional 1,673,365 shares in the last quarter. Invesco Ltd. increased its position in shares of GE Aerospace by 14.4% during the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after acquiring an additional 1,204,910 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of GE Aerospace during the fourth quarter valued at approximately $194,208,000. Institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Up 0.8%

Shares of NYSE GE traded up $2.03 during mid-day trading on Friday, reaching $246.78. 3,089,499 shares of the company were exchanged, compared to its average volume of 5,513,512. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $260.55. The firm has a 50-day moving average of $234.38 and a 200 day moving average of $206.23. The stock has a market cap of $263.16 billion, a price-to-earnings ratio of 38.38, a P/E/G ratio of 2.98 and a beta of 1.37. 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 (NYSE:GE - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating 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 business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. On average, research analysts expect 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 will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.58%. GE Aerospace's payout ratio is 22.40%.

Wall Street Analyst Weigh In

GE has been the subject of a number of research reports. UBS Group boosted their price target on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Royal Bank Of Canada set a $275.00 price target on GE Aerospace and gave the stock an "outperform" rating in a research report on Tuesday, June 3rd. Wells Fargo & Company raised their price target on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Finally, Citigroup decreased their price objective on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, GE Aerospace currently has an average rating of "Moderate Buy" and a consensus price target of $223.75.

Insider Activity at GE Aerospace

In other news, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the sale, the vice president directly owned 11,540 shares of the company's stock, valued at $2,270,264.20. The trade was a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

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.