State of New Jersey Common Pension Fund D trimmed its stake in GE Aerospace (NYSE:GE - Free Report) by 8.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 366,168 shares of the company's stock after selling 34,228 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in GE Aerospace were worth $73,289,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its stake in shares of GE Aerospace by 25.3% during the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock valued at $2,003,000 after buying an additional 2,421 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of GE Aerospace by 7.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock valued at $375,000 after buying an additional 150 shares in the last quarter. XTX Topco Ltd lifted its stake in shares of GE Aerospace by 163.8% during the 4th quarter. XTX Topco Ltd now owns 3,355 shares of the company's stock valued at $560,000 after buying an additional 2,083 shares in the last quarter. Evergreen Capital Management LLC lifted its stake in shares of GE Aerospace by 2.5% during the 4th quarter. Evergreen Capital Management LLC now owns 7,025 shares of the company's stock valued at $1,174,000 after buying an additional 172 shares in the last quarter. Finally, Main Street Financial Solutions LLC increased its holdings in GE Aerospace by 142.3% during the 4th quarter. Main Street Financial Solutions LLC now owns 4,535 shares of the company's stock worth $756,000 after acquiring an additional 2,663 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms recently weighed in on GE. Citigroup reaffirmed a "buy" rating and set a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Wells Fargo & Company upped their target price on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Royal Bank Of Canada upped their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Finally, UBS Group upped their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $232.92.
Check Out Our Latest Stock Report on GE
GE Aerospace Price Performance
Shares of NYSE:GE traded down $2.08 during trading on Friday, reaching $267.62. The company had a trading volume of 5,202,309 shares, compared to its average volume of 4,687,750. The company has a fifty day moving average of $257.44 and a two-hundred day moving average of $224.35. The stock has a market capitalization of $283.79 billion, a P/E ratio of 37.32, a price-to-earnings-growth ratio of 2.88 and a beta of 1.44. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $281.50. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88.
GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. Equities research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.
GE Aerospace Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace's payout ratio is currently 20.08%.
GE Aerospace Profile
(
Free Report)
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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