State of New Jersey Common Pension Fund D Has $92.76 Million Stake in GE Aerospace $GE

Key Points

• The State of New Jersey Common Pension Fund D holds a $92.76 million stake in GE Aerospace after trimming its shares by 1.6% during the second quarter.
• Wall Street analysts have increased their price targets for GE Aerospace, with Goldman Sachs raising it from $271 to $305 and Wolfe Research from $280 to $330, reflecting a positive outlook for the stock.
• GE Aerospace reported $1.66 earnings per share for the most recent quarter, exceeding expectations and showing a 26.4% increase in revenue year-over-year.

State of New Jersey Common Pension Fund D trimmed its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 1.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 360,396 shares of the company's stock after selling 5,772 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in GE Aerospace were worth $92,762,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in GE. Old North State Wealth Management LLC lifted its position in GE Aerospace by 1.9% in the 2nd quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company's stock valued at $542,000 after acquiring an additional 39 shares in the last quarter. Stephens Consulting LLC lifted its position in GE Aerospace by 18.0% in the 2nd quarter. Stephens Consulting LLC now owns 256 shares of the company's stock valued at $66,000 after acquiring an additional 39 shares in the last quarter. Webster Bank N. A. lifted its position in GE Aerospace by 2.1% in the 2nd quarter. Webster Bank N. A. now owns 1,970 shares of the company's stock valued at $507,000 after acquiring an additional 41 shares in the last quarter. Pacific Sage Partners LLC lifted its position in GE Aerospace by 3.5% in the 2nd quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company's stock valued at $314,000 after acquiring an additional 41 shares in the last quarter. Finally, Ascent Capital Management LLC lifted its position in GE Aerospace by 1.9% in the 2nd quarter. Ascent Capital Management LLC now owns 2,273 shares of the company's stock valued at $585,000 after acquiring an additional 42 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. The Goldman Sachs Group boosted their price objective on shares of GE Aerospace from $271.00 to $305.00 and gave the company a "buy" rating in a research report on Friday, October 10th. Wolfe Research boosted their price target on shares of GE Aerospace from $280.00 to $330.00 and gave the stock an "outperform" rating in a research report on Thursday, October 9th. Royal Bank Of Canada boosted their price target on shares of GE Aerospace from $300.00 to $340.00 and gave the stock an "outperform" rating in a research report on Friday, October 17th. UBS Group set a $366.00 price target on shares of GE Aerospace and gave the stock a "buy" rating in a research report on Wednesday. Finally, TD Cowen boosted their price target on shares of GE Aerospace from $300.00 to $330.00 and gave the stock a "buy" rating in a research report on Tuesday, October 7th. Fifteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $284.27.

GE Aerospace Stock Down 0.8%

GE Aerospace stock opened at $303.97 on Friday. The firm has a market capitalization of $320.63 billion, a PE ratio of 40.58, a P/E/G ratio of 3.18 and a beta of 1.49. The company's 50-day moving average is $289.19 and its 200-day moving average is $254.75. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $316.53. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.08 and a quick ratio of 0.73.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Tuesday, October 21st. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.20. The company had revenue of $11.31 billion for the quarter, compared to analyst estimates of $10.29 billion. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. GE Aerospace's revenue for the quarter was up 26.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.15 EPS. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

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 dividend of $0.36 per share. The ex-dividend date is Monday, September 29th. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace's payout ratio is currently 19.23%.

GE Aerospace 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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