Illinois Municipal Retirement Fund Boosts Stock Holdings in GE Aerospace (NYSE:GE)

Illinois Municipal Retirement Fund increased its position in shares of GE Aerospace (NYSE:GE - Free Report) by 65.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,890 shares of the company's stock after purchasing an additional 25,740 shares during the period. Illinois Municipal Retirement Fund's holdings in GE Aerospace were worth $12,988,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Sendero Wealth Management LLC increased its holdings in GE Aerospace by 526.6% in the first quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock valued at $3,004,000 after buying an additional 12,613 shares in the last quarter. Chung Wu Investment Group LLC purchased a new position in GE Aerospace in the fourth quarter valued at about $795,000. National Bank of Canada FI increased its holdings in GE Aerospace by 2.9% in the fourth 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 in the last quarter. Global Assets Advisory LLC increased its holdings in GE Aerospace by 186.7% in the first 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. increased its holdings in GE Aerospace by 14.4% in the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock valued at $1,591,970,000 after buying an additional 1,204,910 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on GE. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Royal Bank Of Canada set a $275.00 target price on shares of GE Aerospace and gave the company an "outperform" rating in a report on Tuesday, June 3rd. Wells Fargo & Company increased their target price 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. UBS Group increased their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Finally, Citigroup lowered their price target on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $221.15.

Insider Buying and Selling

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the transaction, the senior vice president now owns 8,805 shares in the company, valued at $1,766,899.35. This trade represents a 15.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction 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 now owns 11,540 shares in the company, valued at approximately $2,270,264.20. This trade 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 company insiders.

GE Aerospace Stock Up 1.4%

Shares of NYSE GE opened at $254.50 on Friday. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $260.55. The firm's 50 day moving average price is $228.63 and its 200 day moving average price is $202.77. The firm has a market cap of $271.39 billion, a P/E ratio of 39.58, a price-to-earnings-growth ratio of 3.03 and a beta of 1.38. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. As a group, 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 dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.57%. GE Aerospace's dividend payout ratio (DPR) is currently 22.40%.

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.

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