Utah Retirement Systems Lowers Holdings in GE Aerospace (NYSE:GE)

Utah Retirement Systems trimmed its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 0.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 178,599 shares of the company's stock after selling 1,400 shares during the period. Utah Retirement Systems' holdings in GE Aerospace were worth $29,789,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Age Alpha Advisors LLC lifted its holdings in shares of GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after purchasing an additional 84 shares in the last quarter. Hager Investment Management Services LLC bought a new position in shares of GE Aerospace in the 4th quarter worth $27,000. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of GE Aerospace in the 4th quarter worth $28,000. Sugar Maple Asset Management LLC bought a new position in shares of GE Aerospace in the 4th quarter worth $29,000. Finally, CBIZ Investment Advisory Services LLC bought a new position in shares of GE Aerospace in the 4th quarter worth $29,000. 74.77% of the stock is currently owned by institutional investors.

Insider Activity at GE Aerospace

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the sale, the vice president now directly owns 11,540 shares in the company, valued at $2,270,264.20. This represents a 26.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the sale, the senior vice president now owns 8,805 shares in the company, valued at $1,766,899.35. This 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 currently owned by corporate insiders.

GE Aerospace Stock Performance

GE traded up $2.18 during midday trading on Thursday, reaching $203.72. The company had a trading volume of 4,682,612 shares, compared to its average volume of 5,372,626. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The stock has a market cap of $217.24 billion, a PE ratio of 34.01, a P/E/G ratio of 2.59 and a beta of 1.04. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $214.21. The business has a 50-day moving average price of $194.04 and a two-hundred day moving average price of $186.92.

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, beating analysts' consensus estimates of $1.29 by $0.20. The firm had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. On average, sell-side analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, March 10th were paid a dividend of $0.36 per share. This is a boost from GE Aerospace's previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Monday, March 10th. GE Aerospace's dividend payout ratio is presently 22.40%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GE. Citigroup lowered their price target on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Bank of America lifted their price objective on shares of GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $220.00 price objective on shares of GE Aerospace in a report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft cut their price objective 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. Finally, Northcoast Research raised shares of GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 price objective on the stock in a report on Wednesday, April 9th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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.