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

New Mexico Educational Retirement Board cut its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 2.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,577 shares of the company's stock after selling 1,100 shares during the period. New Mexico Educational Retirement Board's holdings in GE Aerospace were worth $10,123,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. New Age Alpha Advisors LLC lifted its position in shares of GE Aerospace by 133.3% in 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 during the last quarter. Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of GE Aerospace in the fourth quarter worth about $28,000. Putney Financial Group LLC acquired a new stake in shares of GE Aerospace in the fourth quarter worth about $28,000. CBIZ Investment Advisory Services LLC acquired a new stake in shares of GE Aerospace in the fourth quarter worth about $29,000. Finally, Copia Wealth Management lifted its position in shares of GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after buying an additional 142 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GE. Royal Bank Of Canada set a $275.00 price objective on GE Aerospace and gave the stock an "outperform" rating in a research note on Tuesday, June 3rd. 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 report on Thursday, April 24th. Citigroup lowered their price target on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. UBS Group lifted their price objective on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Finally, Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $223.75.

GE Aerospace Price Performance

GE traded up $2.73 on Wednesday, hitting $249.78. 5,581,342 shares of the stock were exchanged, compared to its average volume of 5,523,229. The firm has a market capitalization of $266.36 billion, a price-to-earnings ratio of 38.85, a PEG ratio of 3.00 and a beta of 1.37. 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 has a 12 month low of $150.20 and a 12 month high of $260.55. The business has a 50-day moving average of $236.28 and a two-hundred day moving average of $207.07.

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 (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.20. The business 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%. Sell-side analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

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

Insider Activity at GE Aerospace

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the company's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the sale, the vice president owned 11,540 shares in the company, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Mohamed Ali sold 1,602 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the transaction, the senior vice president owned 8,805 shares of the company's stock, 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. Corporate insiders own 0.21% of the company's stock.

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.