Securian Asset Management Inc. Decreases Stake in GE Aerospace (NYSE:GE)

Securian Asset Management Inc. lessened its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 2.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,854 shares of the company's stock after selling 1,314 shares during the period. Securian Asset Management Inc.'s holdings in GE Aerospace were worth $11,379,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Copia Wealth Management boosted its stake in GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after purchasing an additional 142 shares during the last quarter. New Age Alpha Advisors LLC boosted its stake in shares of GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after buying an additional 84 shares during the last quarter. O Brien Wealth Partners LLC purchased a new position in shares of GE Aerospace in the 1st quarter worth $33,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of GE Aerospace in the 4th quarter worth $28,000. Finally, First Pacific Financial boosted its stake in shares of GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after buying an additional 52 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

GE Aerospace Price Performance

Shares of GE Aerospace stock traded up $0.65 during trading hours on Tuesday, hitting $262.99. The company's stock had a trading volume of 2,826,562 shares, compared to its average volume of 6,122,044. The business has a 50 day moving average price of $240.24 and a two-hundred day moving average price of $209.68. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $265.06. The company has a market cap of $280.44 billion, a PE ratio of 40.90, a PEG ratio of 3.06 and a beta of 1.37. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data 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 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 the consensus estimate of $9.06 billion. Analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.55%. GE Aerospace's payout ratio is 22.40%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GE shares. Citigroup raised their price target on GE Aerospace from $227.00 to $296.00 and gave the stock a "buy" rating in a research note on Monday. Wells Fargo & Company raised their price target on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. UBS Group boosted their price target on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Finally, Royal Bank Of Canada set a $275.00 price target on GE Aerospace and gave the company an "outperform" rating in a report on Tuesday, June 3rd. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, GE Aerospace has an average rating of "Moderate Buy" and a consensus target price of $229.50.

Insider Activity

In related news, SVP Mohamed Ali sold 1,602 shares of the business's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the sale, the senior vice president directly owned 8,805 shares in the company, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the business's stock in a transaction dated Thursday, April 24th. The stock was 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 owned 11,540 shares in the company, 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. 0.21% of the stock is owned by 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.