State of Alaska Department of Revenue Sells 5,771 Shares of GE Aerospace $GE

Key Points

• The State of Alaska Department of Revenue reduced its holdings in GE Aerospace by 4.6%, selling 5,771 shares during the second quarter, leaving it with a total of 119,867 shares valued at approximately $30.85 million.
• Institutional investors collectively own 74.77% of GE Aerospace's stock, signaling strong interest in the company amidst various stake adjustments among hedge funds.
• Analysts have recently increased their price targets for GE Aerospace, with Royal Bank of Canada and UBS Group raising their forecasts to $300.00 and $321.00, respectively, leading to a consensus rating of "Moderate Buy".

State of Alaska Department of Revenue decreased its position in shares of GE Aerospace (NYSE:GE - Free Report) by 4.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 119,867 shares of the company's stock after selling 5,771 shares during the quarter. State of Alaska Department of Revenue's holdings in GE Aerospace were worth $30,852,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC grew its position in shares of GE Aerospace by 17.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company's stock worth $1,647,000 after buying an additional 1,201 shares in the last quarter. Rainey & Randall Wealth Advisors Inc. purchased a new stake in shares of GE Aerospace during the 1st quarter worth $203,000. Sendero Wealth Management LLC lifted its stake in shares of GE Aerospace by 526.6% during the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock worth $3,004,000 after purchasing an additional 12,613 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in shares of GE Aerospace by 25.1% during the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock worth $8,065,000 after purchasing an additional 8,245 shares during the last quarter. Finally, Global Assets Advisory LLC lifted its stake in shares of GE Aerospace by 186.7% during the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock worth $2,751,000 after purchasing an additional 9,580 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GE shares. Royal Bank Of Canada upped their price objective on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. UBS Group upped their price objective on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Sanford C. Bernstein restated an "outperform" rating on shares of GE Aerospace in a research note on Friday, August 15th. Barclays upped their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company increased their price target on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $241.92.

GE Aerospace Price Performance

Shares of NYSE GE opened at $294.97 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The company has a market cap of $312.80 billion, a PE ratio of 41.14, a P/E/G ratio of 3.20 and a beta of 1.48. The business has a 50-day simple moving average of $277.26 and a two-hundred day simple moving average of $240.46. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $307.25.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The firm had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. During the same period last year, the business posted $1.20 earnings per share. The company's revenue for the quarter was up 21.2% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, equities analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

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.

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Aerospace (NYSE:GE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.