Teacher Retirement System of Texas Sells 114,783 Shares of GE Aerospace (NYSE:GE)

Teacher Retirement System of Texas decreased its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 20.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 457,435 shares of the company's stock after selling 114,783 shares during the period. Teacher Retirement System of Texas' holdings in GE Aerospace were worth $91,556,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GE. Sendero Wealth Management LLC grew its holdings in GE Aerospace by 526.6% during the first quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock valued at $3,004,000 after purchasing an additional 12,613 shares during the period. Chung Wu Investment Group LLC acquired a new position in shares of GE Aerospace in the 4th quarter valued at $795,000. National Bank of Canada FI grew its holdings in shares of GE Aerospace by 2.9% in the 4th quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock valued at $177,535,000 after buying an additional 29,844 shares during the period. Global Assets Advisory LLC increased its position in shares of GE Aerospace by 186.7% in the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock valued at $2,751,000 after buying an additional 9,580 shares in the last quarter. Finally, Invesco Ltd. raised its stake in GE Aerospace by 14.4% during the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after buying an additional 1,204,910 shares during the period. Institutional investors own 74.77% of the company's stock.

Analysts Set New Price Targets

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

GE Aerospace Stock Up 0.8%

GE stock traded up $2.03 during midday trading on Thursday, hitting $246.78. The company's stock had a trading volume of 3,089,499 shares, compared to its average volume of 5,509,984. The company's fifty day moving average price is $232.43 and its 200 day moving average price is $204.51. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $260.55. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.08 and a quick ratio of 0.77. The stock has a market capitalization of $263.16 billion, a P/E ratio of 38.38, a PEG ratio of 2.95 and a beta of 1.37.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $9.06 billion. As a group, equities research analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.58%. GE Aerospace's dividend payout ratio is currently 22.40%.

Insider Activity

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the firm'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 sale, the senior vice president directly owned 8,805 shares in the company, valued at $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the business's stock in a transaction that occurred 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 sale, the vice president owned 11,540 shares of the company's stock, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

About GE Aerospace

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.