Retirement Systems of Alabama Cuts Stock Holdings in GE Aerospace (NYSE:GE)

Retirement Systems of Alabama reduced its position in GE Aerospace (NYSE:GE - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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).

A number of other hedge funds have also recently added to or reduced their stakes in GE. Trifecta Capital Advisors LLC raised its position in shares of GE Aerospace by 9.8% in the first quarter. Trifecta Capital Advisors LLC now owns 641 shares of the company's stock worth $128,000 after acquiring an additional 57 shares during the period. Blue Trust Inc. grew its position in shares of GE Aerospace by 5.3% during the 1st quarter. Blue Trust Inc. now owns 12,077 shares of the company's stock valued at $2,417,000 after acquiring an additional 612 shares during the period. ORG Wealth Partners LLC increased its stake in shares of GE Aerospace by 23.0% in the 1st quarter. ORG Wealth Partners LLC now owns 716 shares of the company's stock valued at $146,000 after purchasing an additional 134 shares in the last quarter. Plimoth Trust Co. LLC raised its holdings in GE Aerospace by 5.9% in the 1st quarter. Plimoth Trust Co. LLC now owns 13,826 shares of the company's stock worth $2,767,000 after purchasing an additional 768 shares during the period. Finally, Johnson Investment Counsel Inc. raised its holdings in GE Aerospace by 0.9% in the 1st quarter. Johnson Investment Counsel Inc. now owns 73,808 shares of the company's stock worth $14,773,000 after purchasing an additional 638 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Stock Up 0.0%

Shares of NYSE GE opened at $235.83 on Friday. The stock has a market cap of $251.48 billion, a PE ratio of 36.68, a P/E/G ratio of 2.85 and a beta of 1.38. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $257.47. The company has a 50-day moving average of $220.79 and a 200 day moving average of $199.75.

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

Analyst Ratings Changes

Several analysts have commented on the company. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Wells Fargo & Company lifted their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. UBS Group upped their price objective 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. Citigroup decreased their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, Royal Bank Of Canada set a $275.00 target price on shares of GE Aerospace and gave the stock an "outperform" rating in a research note on Tuesday, June 3rd. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $221.15.

Insiders Place Their Bets

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 shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the sale, the senior vice president now owns 8,805 shares in the company, valued at $1,766,899.35. This trade represents a 15.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the sale, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

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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