Illinois Municipal Retirement Fund Increases Stake in GE Aerospace (NYSE:GE)

Illinois Municipal Retirement Fund increased its stake in GE Aerospace (NYSE:GE - Free Report) by 65.7% in the first quarter, according to its most recent 13F filing 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 filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of GE. Copia Wealth Management lifted its position in GE Aerospace by 14,200.0% during the first 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 period. New Age Alpha Advisors LLC boosted its holdings in GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after buying an additional 84 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. acquired a new stake in GE Aerospace during the fourth quarter valued at $28,000. First Pacific Financial increased its holdings in GE Aerospace by 46.0% in the first quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after buying an additional 52 shares in the last quarter. Finally, Putney Financial Group LLC purchased a new position in GE Aerospace in the fourth quarter valued at $28,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Trading Down 3.1%

Shares of NYSE GE traded down $8.03 during midday trading on Tuesday, reaching $249.36. 4,770,874 shares of the stock were exchanged, compared to its average volume of 5,492,819. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $260.55. The stock has a market capitalization of $265.92 billion, a P/E ratio of 38.75, a PEG ratio of 3.07 and a beta of 1.38. The company has a 50 day simple moving average of $230.21 and a 200 day simple moving average of $203.91. 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 posted its earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating analysts' consensus estimates of $1.29 by $0.20. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. As a group, equities analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.58%. GE Aerospace's dividend payout ratio (DPR) is 22.40%.

Analyst Ratings Changes

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

Insider Activity at GE Aerospace

In related news, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction dated Thursday, April 24th. The stock was 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 in the company, valued at $2,270,264.20. This trade represents a 26.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Mohamed Ali sold 1,602 shares of the business's 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 sale, the senior vice president 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 disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

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.