Strategic Investment Solutions Inc. IL cut its holdings in GE Aerospace (NYSE:GE – Free Report) by 52.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,686 shares of the company’s stock after selling 1,880 shares during the period. Strategic Investment Solutions Inc. IL’s holdings in GE Aerospace were worth $630,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of GE. Vanguard Group Inc. boosted its position in GE Aerospace by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 92,731,541 shares of the company’s stock worth $28,564,097,000 after purchasing an additional 699,364 shares during the last quarter. Auto Owners Insurance Co grew its stake in GE Aerospace by 52,247.5% in the 4th quarter. Auto Owners Insurance Co now owns 65,721,281 shares of the company’s stock valued at $2,024,413,000 after purchasing an additional 65,595,733 shares during the period. State Street Corp increased its position in shares of GE Aerospace by 1.5% during the 4th quarter. State Street Corp now owns 45,240,802 shares of the company’s stock valued at $13,951,570,000 after purchasing an additional 663,160 shares during the last quarter. Geode Capital Management LLC increased its position in shares of GE Aerospace by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 24,774,942 shares of the company’s stock valued at $7,615,200,000 after purchasing an additional 312,880 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of GE Aerospace during the 4th quarter worth $4,444,736,000. 74.77% of the stock is owned by hedge funds and other institutional investors.
GE Aerospace Trading Down 1.1%
Shares of GE opened at $370.40 on Friday. The business has a 50-day moving average of $353.75 and a 200 day moving average of $322.74. GE Aerospace has a fifty-two week low of $263.80 and a fifty-two week high of $388.84. The firm has a market cap of $384.31 billion, a P/E ratio of 43.63, a price-to-earnings-growth ratio of 2.74 and a beta of 1.36. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.67 and a current ratio of 0.98.
GE Aerospace Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, July 27th. Stockholders of record on Monday, July 6th were given a $0.47 dividend. The ex-dividend date of this dividend was Monday, July 6th. This represents a $1.88 annualized dividend and a dividend yield of 0.5%. GE Aerospace’s payout ratio is 22.14%.
Insider Activity at GE Aerospace
In related news, SVP Mohamed Ali sold 8,096 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $353.71, for a total transaction of $2,863,636.16. Following the sale, the senior vice president directly owned 20,666 shares in the company, valued at approximately $7,309,770.86. This represents a 28.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on GE shares. Sanford C. Bernstein set a $421.00 price objective on shares of GE Aerospace and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Wall Street Zen cut shares of GE Aerospace from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. Susquehanna reissued a “positive” rating and set a $430.00 target price (up from $380.00) on shares of GE Aerospace in a research report on Thursday, July 9th. Weiss Ratings upgraded shares of GE Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 17th. Finally, President Capital lowered their price target on shares of GE Aerospace from $355.00 to $342.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. Sixteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $390.59.
View Our Latest Analysis on GE Aerospace
GE Aerospace Profile
GE Aerospace (NYSE: GE) is the aerospace business of General Electric, focused on the design, manufacture and support of aircraft engines, integrated propulsion systems and related aftermarket services. The company serves commercial airlines, airframers, business and general aviation operators, and defense customers, providing propulsion solutions for a broad range of aircraft types from single‑aisle airliners to widebody and military platforms.
Its product portfolio includes a family of commercial and military jet engines as well as spare parts, components and systems engineering.
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