State of Alaska Department of Revenue Increases Stock Position in GE Aerospace (NYSE:GE)

State of Alaska Department of Revenue boosted its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 1.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 125,638 shares of the company's stock after purchasing an additional 2,225 shares during the period. State of Alaska Department of Revenue's holdings in GE Aerospace were worth $25,146,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. New Age Alpha Advisors LLC lifted its holdings in shares of GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after purchasing an additional 84 shares during the period. Sumitomo Mitsui Financial Group Inc. purchased a new position in GE Aerospace during the 4th quarter worth $28,000. Putney Financial Group LLC acquired a new stake in shares of GE Aerospace in the 4th quarter worth $28,000. CBIZ Investment Advisory Services LLC purchased a new stake in shares of GE Aerospace in the fourth quarter valued at about $29,000. Finally, Copia Wealth Management increased its stake in shares of GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after acquiring an additional 142 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at GE Aerospace

In related news, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following the transaction, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction dated Tuesday, April 29th. The shares were 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 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 disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

GE has been the subject of a number of recent analyst reports. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Wells Fargo & Company increased their target price on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Redburn Atlantic started coverage on GE Aerospace in a research note on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price target on the stock. Royal Bank Of Canada set a $275.00 price objective on GE Aerospace and gave the stock an "outperform" rating in a report on Tuesday, June 3rd. Finally, Citigroup cut their price objective on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, GE Aerospace currently has an average rating of "Moderate Buy" and an average target price of $221.15.

GE Aerospace Stock Down 0.4%

GE Aerospace stock opened at $235.49 on Wednesday. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $257.47. The firm has a market capitalization of $251.12 billion, a price-to-earnings ratio of 36.62, a price-to-earnings-growth ratio of 2.85 and a beta of 1.38. The stock's fifty day moving average is $218.73 and its two-hundred day moving average is $199.12. 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 posted its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.20. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. Analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

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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