New Mexico Educational Retirement Board Has $10.12 Million Stake in GE Aerospace (NYSE:GE)

New Mexico Educational Retirement Board reduced its position in shares of GE Aerospace (NYSE:GE - Free Report) by 2.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,577 shares of the company's stock after selling 1,100 shares during the quarter. New Mexico Educational Retirement Board's holdings in GE Aerospace were worth $10,123,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of GE Aerospace during the 4th quarter valued at $2,375,439,000. GAMMA Investing LLC lifted its position in shares of GE Aerospace by 23,611.7% during the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock valued at $1,013,959,000 after acquiring an additional 5,044,632 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of GE Aerospace by 87.7% during the 4th quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock valued at $597,412,000 after acquiring an additional 1,673,365 shares during the last quarter. Invesco Ltd. lifted its position in shares of GE Aerospace by 14.4% during the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock valued at $1,591,970,000 after acquiring an additional 1,204,910 shares during the last quarter. Finally, FMR LLC lifted its position in shares of GE Aerospace by 1.5% during the 4th quarter. FMR LLC now owns 66,823,968 shares of the company's stock valued at $11,145,570,000 after acquiring an additional 965,012 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

GE Aerospace Stock Up 1.2%

Shares of NYSE GE traded up $2.92 during mid-day trading on Friday, reaching $255.49. The company had a trading volume of 7,838,134 shares, compared to its average volume of 5,549,492. 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 quick ratio of 0.77 and a current ratio of 1.08. The stock has a market capitalization of $272.45 billion, a PE ratio of 39.73, a price-to-earnings-growth ratio of 3.05 and a beta of 1.37. The stock's 50 day moving average is $239.17 and its 200-day moving average is $208.52.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share 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 business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. As a group, equities analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

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 0.56%. GE Aerospace's dividend payout ratio (DPR) is presently 22.40%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GE. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. UBS Group increased their price objective on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Citigroup cut their price objective on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. 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. Finally, Wells Fargo & Company increased their target price on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $223.75.

Insiders Place Their Bets

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction 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 transaction, the senior vice president directly owned 8,805 shares of the company's stock, valued at $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following the transaction, the vice president directly owned 11,540 shares in the company, valued at $2,270,264.20. The trade was a 26.23% 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.

GE Aerospace Company 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.