Principal Financial Group Inc. Reduces Position in GE Aerospace (NYSE:GE)

Principal Financial Group Inc. trimmed its holdings in GE Aerospace (NYSE:GE - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,212,057 shares of the company's stock after selling 20,089 shares during the quarter. Principal Financial Group Inc. owned approximately 0.11% of GE Aerospace worth $242,593,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. New Age Alpha Advisors LLC boosted its position in GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after buying an additional 84 shares during the period. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of GE Aerospace in the fourth quarter valued at approximately $28,000. Putney Financial Group LLC purchased a new stake in shares of GE Aerospace in the fourth quarter valued at approximately $28,000. CBIZ Investment Advisory Services LLC bought a new position in GE Aerospace in the fourth quarter worth approximately $29,000. Finally, Copia Wealth Management increased its holdings in GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after purchasing an additional 142 shares during the period. 74.77% of the stock is owned by institutional investors.

Insider Activity at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the business'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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Robert M. Giglietti sold 4,104 shares of the firm's 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 completion of the transaction, the vice president directly owned 11,540 shares of the company's stock, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

GE Aerospace Price Performance

Shares of GE opened at $246.78 on Friday. The company has a 50 day moving average of $233.42 and a two-hundred day moving average of $205.06. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $260.55. The company has a market cap of $263.16 billion, a price-to-earnings ratio of 38.38, a price-to-earnings-growth ratio of 2.95 and a beta of 1.37.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings data 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 return on equity of 29.15% and a net margin of 17.63%. The firm had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.06 billion. As a group, analysts predict 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. Stockholders of record on Monday, July 7th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.58%. GE Aerospace's dividend payout ratio (DPR) is currently 22.40%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GE shares. UBS Group increased their price target on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Wells Fargo & Company boosted their price target 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. Citigroup lowered their price target on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. 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 equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. 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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