State of Tennessee Department of Treasury Decreases Stake in GE Aerospace (NYSE:GE)

State of Tennessee Department of Treasury lowered its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 13.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 410,614 shares of the company's stock after selling 63,485 shares during the quarter. State of Tennessee Department of Treasury's holdings in GE Aerospace were worth $68,486,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GE. Wealth Dimensions Group Ltd. increased its holdings in GE Aerospace by 1.9% in the 4th quarter. Wealth Dimensions Group Ltd. now owns 7,432 shares of the company's stock worth $1,240,000 after acquiring an additional 142 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of GE Aerospace by 195.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 65,517 shares of the company's stock worth $10,928,000 after acquiring an additional 43,359 shares in the last quarter. Transce3nd LLC purchased a new stake in shares of GE Aerospace during the fourth quarter worth $48,000. Sharpepoint LLC bought a new position in shares of GE Aerospace in the fourth quarter worth $3,492,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in shares of GE Aerospace by 135.3% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 440 shares of the company's stock valued at $73,000 after purchasing an additional 253 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

GE Aerospace Price Performance

GE stock traded up $1.16 during mid-day trading on Friday, hitting $198.57. 2,227,497 shares of the stock were exchanged, compared to its average volume of 5,393,549. The business has a fifty day moving average price of $194.59 and a 200 day moving average price of $186.61. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $214.21. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The stock has a market capitalization of $213.13 billion, a price-to-earnings ratio of 33.18, a PEG ratio of 2.59 and a beta of 1.04.

GE Aerospace (NYSE:GE - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.20. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. On average, sell-side analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 annualized dividend and a dividend yield of 0.73%. This is a positive change from GE Aerospace's previous quarterly dividend of $0.28. GE Aerospace's dividend payout ratio (DPR) is currently 22.40%.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of recent research reports. UBS Group increased their price objective on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a report on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of GE Aerospace from $190.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of GE Aerospace from $235.00 to $228.00 and set a "buy" rating on the stock in a report on Thursday, January 2nd. Redburn Atlantic began coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price target for the company. Finally, Wells Fargo & Company upped their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, GE Aerospace currently has a consensus rating of "Moderate Buy" and an average price target of $216.92.

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.