New York State Teachers Retirement System Sells 66,801 Shares of GE Aerospace (NYSE:GE)

New York State Teachers Retirement System lessened its holdings in GE Aerospace (NYSE:GE - Free Report) by 6.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 914,894 shares of the company's stock after selling 66,801 shares during the quarter. New York State Teachers Retirement System owned 0.09% of GE Aerospace worth $183,116,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Norges Bank bought a new stake in GE Aerospace during the fourth quarter worth $2,375,439,000. GAMMA Investing LLC raised its position in GE Aerospace by 23,611.7% during the first quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock worth $1,013,959,000 after acquiring an additional 5,044,632 shares in the last quarter. Janus Henderson Group PLC raised its position in GE Aerospace by 87.7% during the fourth quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock worth $597,412,000 after acquiring an additional 1,673,365 shares in the last quarter. Invesco Ltd. raised its position in GE Aerospace by 14.4% during the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after acquiring an additional 1,204,910 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in GE Aerospace during the fourth quarter worth $194,208,000. Institutional investors own 74.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GE. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Royal Bank Of Canada set a $275.00 price target on shares of GE Aerospace and gave the stock an "outperform" rating in a research report on Tuesday, June 3rd. Citigroup dropped their price target 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 research report on Wednesday, April 23rd. Finally, Wells Fargo & Company upped their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, GE Aerospace currently has an average rating of "Moderate Buy" and an average price target of $223.75.

GE Aerospace Price Performance

NYSE:GE opened at $254.50 on Monday. 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 fifty day moving average price is $228.63 and its two-hundred day moving average price is $203.27. GE Aerospace has a one year low of $150.20 and a one year high of $266.50. The company has a market cap of $271.39 billion, a P/E ratio of 39.58, a P/E/G ratio of 3.07 and a beta of 1.38.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating the consensus estimate 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. Equities analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.57%. GE Aerospace's dividend payout ratio (DPR) is presently 22.40%.

Insider Activity at GE Aerospace

In related news, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the transaction, the senior vice president now directly owns 8,805 shares in the company, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $807,379.92. Following the completion of the transaction, the vice president now owns 11,540 shares in the company, valued at $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

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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