South Dakota Investment Council Has $3.24 Million Holdings in GE Aerospace (NYSE:GE)

South Dakota Investment Council lifted its position in shares of GE Aerospace (NYSE:GE - Free Report) by 8.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,209 shares of the company's stock after acquiring an additional 1,300 shares during the quarter. South Dakota Investment Council's holdings in GE Aerospace were worth $3,244,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of GE. Norges Bank acquired a new position in GE Aerospace in the 4th quarter valued at $2,375,439,000. GAMMA Investing LLC increased its holdings in shares of GE Aerospace by 23,611.7% during the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock worth $1,013,959,000 after buying an additional 5,044,632 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of GE Aerospace by 87.7% during the 4th quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock worth $597,412,000 after buying an additional 1,673,365 shares during the last quarter. Invesco Ltd. increased its holdings in shares of GE Aerospace by 14.4% during the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after buying an additional 1,204,910 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of GE Aerospace by 1.5% during the 4th quarter. FMR LLC now owns 66,823,968 shares of the company's stock worth $11,145,570,000 after buying an additional 965,012 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

Insider Activity

In related 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 completion of the sale, the senior vice president directly owned 8,805 shares of the company's stock, valued at $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 SEC, which is available at this link. Also, VP Robert M. Giglietti sold 4,104 shares of the business's stock in a transaction that occurred 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 sale, the vice president directly owned 11,540 shares of the company's stock, valued at approximately $2,270,264.20. This trade 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 currently owned by insiders.

GE Aerospace Trading Down 0.2%

GE Aerospace stock traded down $0.58 during midday trading on Monday, reaching $262.69. The stock had a trading volume of 5,171,430 shares, compared to its average volume of 5,646,625. The firm's fifty day simple moving average is $244.37 and its two-hundred day simple moving average is $212.37. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $272.80. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The firm has a market cap of $280.13 billion, a price-to-earnings ratio of 36.64, a PEG ratio of 3.05 and a beta of 1.37.

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

GE Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.55%. GE Aerospace's dividend payout ratio (DPR) is currently 20.08%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup reaffirmed a "buy" rating and set a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Royal Bank Of Canada upped their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday. UBS Group upped their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $240.33.

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.