Public Sector Pension Investment Board Has $49.02 Million Stock Holdings in GE Aerospace (NYSE:GE)

Key Points

• The Public Sector Pension Investment Board reduced its holdings in GE Aerospace by 43.7%, owning 244,915 shares worth approximately $49 million after selling 190,421 shares.
• Analyst ratings for GE Aerospace show a consensus rating of "Moderate Buy" with several price target increases, including Barclays raising it to $295 and UBS Group to $321.
• GE Aerospace recently reported a quarterly earnings per share (EPS) of $1.66, exceeding expectations, with a revenue increase of 21.2% year-over-year.

Public Sector Pension Investment Board trimmed its position in shares of GE Aerospace (NYSE:GE - Free Report) by 43.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 244,915 shares of the company's stock after selling 190,421 shares during the quarter. Public Sector Pension Investment Board's holdings in GE Aerospace were worth $49,020,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in GE. Brighton Jones LLC raised its position in shares of GE Aerospace by 25.3% during the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock worth $2,003,000 after acquiring an additional 2,421 shares during the last quarter. Revolve Wealth Partners LLC raised its position in shares of GE Aerospace by 7.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock worth $375,000 after acquiring an additional 150 shares during the last quarter. Sagespring Wealth Partners LLC bought a new position in shares of GE Aerospace during the fourth quarter worth about $1,616,000. Seeds Investor LLC raised its position in shares of GE Aerospace by 13.3% during the fourth quarter. Seeds Investor LLC now owns 1,833 shares of the company's stock worth $306,000 after acquiring an additional 215 shares during the last quarter. Finally, Advisors Capital Management LLC raised its position in shares of GE Aerospace by 559.6% during the fourth quarter. Advisors Capital Management LLC now owns 20,376 shares of the company's stock worth $3,399,000 after acquiring an additional 17,287 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GE. Barclays raised their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. UBS Group raised their target price on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Finally, Royal Bank Of Canada raised their target price on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, GE Aerospace has a consensus rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Trading Up 1.1%

Shares of GE Aerospace stock opened at $274.95 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $277.18. The stock has a 50 day moving average price of $255.31 and a two-hundred day moving average price of $221.88. The stock has a market capitalization of $291.57 billion, a PE ratio of 38.35, a price-to-earnings-growth ratio of 2.96 and a beta of 1.44.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The firm had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The company's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.20 earnings per share. As a group, equities analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace's payout ratio is 20.08%.

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.

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