Kentucky Retirement Systems Insurance Trust Fund Invests $6.27 Million in GE Aerospace (NYSE:GE)

Kentucky Retirement Systems Insurance Trust Fund bought a new stake in GE Aerospace (NYSE:GE - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 31,311 shares of the company's stock, valued at approximately $6,267,000.

A number of other institutional investors have also recently added to or reduced their stakes in GE. Norges Bank acquired a new stake in shares of GE Aerospace in the fourth quarter worth $2,375,439,000. GAMMA Investing LLC lifted its stake in shares of GE Aerospace by 23,611.7% in the first quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock worth $1,013,959,000 after buying an additional 5,044,632 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of GE Aerospace by 87.7% in the fourth quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock worth $597,412,000 after buying an additional 1,673,365 shares during the last quarter. Invesco Ltd. lifted its stake in shares of GE Aerospace by 14.4% in the fourth 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 last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of GE Aerospace in the fourth quarter worth $194,208,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

GE Aerospace Stock Performance

GE stock traded up $8.81 on Monday, reaching $248.18. 8,048,893 shares of the company were exchanged, compared to its average volume of 5,396,924. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $257.47. The stock's fifty day moving average price is $221.93 and its 200 day moving average price is $200.46. The firm has a market capitalization of $264.66 billion, a PE ratio of 38.60, a PEG ratio of 2.89 and a beta of 1.38. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.08 and a quick ratio of 0.77.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.20. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. On average, research analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

Insider Buying and Selling at GE Aerospace

In other news, VP Robert M. Giglietti sold 4,104 shares of the company's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the sale, the vice president now owns 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the company'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 completion of the sale, the senior vice president now directly owns 8,805 shares in the company, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

Analyst Ratings Changes

GE has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Royal Bank Of Canada set a $275.00 price objective on shares of GE Aerospace and gave the stock an "outperform" rating in a research note on Tuesday, June 3rd. UBS Group boosted their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Finally, 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 research report on Thursday, April 10th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, GE Aerospace has an average rating of "Moderate Buy" and a consensus price target of $221.15.

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.