Sumitomo Mitsui Trust Group Inc. Grows Stock Holdings in GE Aerospace (NYSE:GE)

Sumitomo Mitsui Trust Group Inc. raised its position in shares of GE Aerospace (NYSE:GE - Free Report) by 0.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,634,543 shares of the company's stock after buying an additional 1,708 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.25% of GE Aerospace worth $527,304,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of GE Aerospace by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company's stock valued at $14,980,297,000 after buying an additional 410,172 shares during the last quarter. FMR LLC lifted its position in shares of GE Aerospace by 1.5% during the fourth quarter. FMR LLC now owns 66,823,968 shares of the company's stock valued at $11,145,570,000 after buying an additional 965,012 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of GE Aerospace by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company's stock valued at $3,846,587,000 after buying an additional 529,457 shares during the last quarter. Norges Bank purchased a new stake in shares of GE Aerospace during the fourth quarter valued at about $2,375,439,000. Finally, Northern Trust Corp increased its holdings in shares of GE Aerospace by 5.8% during the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock valued at $1,675,717,000 after acquiring an additional 553,104 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Stock Up 1.4%

GE stock opened at $254.50 on Friday. The company's 50 day moving average price is $228.63 and its 200 day moving average price is $202.77. 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 has a fifty-two week low of $150.20 and a fifty-two week high of $260.55. The firm has a market capitalization of $271.39 billion, a price-to-earnings ratio of 39.58, a PEG ratio of 3.03 and a beta of 1.38.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. On average, equities research analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.57%. GE Aerospace's dividend payout ratio (DPR) is 22.40%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GE shares. UBS Group upped their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Royal Bank Of Canada set a $275.00 price objective on shares of GE Aerospace and gave the company an "outperform" rating in a report on Tuesday, June 3rd. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Wells Fargo & Company upped their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Finally, Citigroup cut their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, GE Aerospace presently has a consensus rating of "Moderate Buy" and a consensus target price of $221.15.

Insider Buying and Selling at GE Aerospace

In other news, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the transaction, the vice president now directly owns 11,540 shares of the company's stock, valued at $2,270,264.20. The trade was a 26.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 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 ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

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.

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