New Mexico Educational Retirement Board Sells 1,100 Shares of GE Aerospace (NYSE:GE)

New Mexico Educational Retirement Board trimmed its position in shares of GE Aerospace (NYSE:GE - Free Report) by 2.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund 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 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GE. Sendero Wealth Management LLC boosted its holdings in GE Aerospace by 526.6% in the first quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock worth $3,004,000 after purchasing an additional 12,613 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in shares of GE Aerospace by 25.1% during the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock valued at $8,065,000 after purchasing an additional 8,245 shares during the period. National Bank of Canada FI raised its position in shares of GE Aerospace by 2.9% during the 4th quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock valued at $177,535,000 after purchasing an additional 29,844 shares during the period. Global Assets Advisory LLC raised its position in shares of GE Aerospace by 186.7% during the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock valued at $2,751,000 after purchasing an additional 9,580 shares during the period. Finally, Invesco Ltd. lifted its holdings 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 in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $2,270,264.20. This represents a 26.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

GE Aerospace Stock Down 0.6%

Shares of GE Aerospace stock opened at $247.11 on Wednesday. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $260.55. The stock has a market cap of $263.52 billion, a price-to-earnings ratio of 38.43, 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. The firm's 50-day moving average is $236.28 and its two-hundred day moving average is $207.07.

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

GE Aerospace Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.

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