GE Aerospace (NYSE:GE) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its stake in GE Aerospace (NYSE:GE - Free Report) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 542,565 shares of the company's stock after selling 7,253 shares during the period. Retirement Systems of Alabama owned about 0.05% of GE Aerospace worth $108,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. New Age Alpha Advisors LLC raised 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 purchasing an additional 84 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of GE Aerospace in the 4th quarter valued at about $28,000. Putney Financial Group LLC purchased a new position in shares of GE Aerospace in the 4th quarter valued at about $28,000. CBIZ Investment Advisory Services LLC purchased a new position in shares of GE Aerospace in the 4th quarter valued at about $29,000. Finally, Copia Wealth Management increased its holdings in shares of GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after acquiring an additional 142 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Stock Performance

NYSE:GE traded up $8.81 during mid-day trading on Monday, reaching $248.18. 8,048,893 shares of the stock were exchanged, compared to its average volume of 5,396,924. The company has a 50 day simple moving average of $223.18 and a 200-day simple moving average of $200.97. The stock has a market capitalization of $264.66 billion, a P/E ratio of 38.60, a P/E/G ratio of 2.89 and a beta of 1.38. 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 1 year low of $150.20 and a 1 year high of $257.47.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.29 by $0.20. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. Analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

GE has been the topic of a number of recent analyst reports. UBS Group increased their price objective on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Royal Bank Of Canada set a $275.00 price objective on GE Aerospace and gave the company an "outperform" rating in a report on Tuesday, June 3rd. Wells Fargo & Company increased their price objective on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Finally, Citigroup dropped their price objective on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $221.15.

Insider Buying and Selling at GE Aerospace

In other news, 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 value of $321,473.34. Following the completion of the sale, the senior vice president now directly owns 8,805 shares of the company's stock, valued at $1,766,899.35. This trade represents a 15.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the sale, the vice president now directly owns 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 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.