Maryland State Retirement & Pension System Lowers Position in GE Aerospace (NYSE:GE)

Key Points

• Maryland State Retirement & Pension System reduced its stake in GE Aerospace by 13.3%, now owning 50,334 shares valued at approximately $10.07 million.
• Institutional investors have significantly increased their positions in GE Aerospace, with GAMMA Investing LLC raising its stake by 23,611.7% during the first quarter.
• Wall Street analysts are optimistic about GE Aerospace, with eleven analysts issuing a "buy" rating and the company's consensus price target set at $232.92.

Maryland State Retirement & Pension System lowered its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 13.3% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 50,334 shares of the company's stock after selling 7,706 shares during the period. Maryland State Retirement & Pension System's holdings in GE Aerospace were worth $10,074,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Rainey & Randall Wealth Advisors Inc. acquired a new position in GE Aerospace during the first quarter worth $203,000. Sendero Wealth Management LLC boosted its holdings in GE Aerospace by 526.6% in the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock worth $3,004,000 after buying an additional 12,613 shares during the last quarter. Concurrent Investment Advisors LLC increased its stake in GE Aerospace by 25.1% during the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock worth $8,065,000 after buying an additional 8,245 shares in the last quarter. Global Assets Advisory LLC increased its stake in GE Aerospace by 186.7% during the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock worth $2,751,000 after buying an additional 9,580 shares in the last quarter. Finally, Leisure Capital Management purchased a new position in shares of GE Aerospace in the first quarter valued at approximately $222,000. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Stock Up 1.4%

Shares of GE Aerospace stock traded up $3.80 on Friday, reaching $275.82. 350,203 shares of the company were exchanged, compared to its average volume of 6,090,296. The stock's 50 day moving average price is $254.73 and its 200-day moving average price is $220.90. The company has a market cap of $292.49 billion, a P/E ratio of 38.57, a price-to-earnings-growth ratio of 2.93 and a beta of 1.44. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $277.00. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The business had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The company's revenue was up 21.2% on a year-over-year basis. During the same period last year, the business earned $1.20 EPS. As a group, equities analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace's payout ratio is 20.08%.

Analyst Upgrades and Downgrades

GE has been the topic of several research reports. Wells Fargo & Company raised their price target on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Barclays boosted their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Royal Bank Of Canada lifted their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Finally, Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, GE Aerospace has a consensus rating of "Moderate Buy" and a consensus target price of $232.92.

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.