California State Teachers Retirement System Lowers Position in GE Aerospace (NYSE:GE)

California State Teachers Retirement System lessened its holdings in GE Aerospace (NYSE:GE - Free Report) by 3.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,719,300 shares of the company's stock after selling 61,134 shares during the quarter. California State Teachers Retirement System owned 0.16% of GE Aerospace worth $286,762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. New Age Alpha Advisors LLC grew its stake in GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after purchasing an additional 84 shares during the period. Hager Investment Management Services LLC bought a new position in GE Aerospace in the 4th quarter valued at $27,000. Sumitomo Mitsui Financial Group Inc. bought a new position in GE Aerospace in the 4th quarter valued at $28,000. Sugar Maple Asset Management LLC bought a new position in GE Aerospace in the 4th quarter valued at $29,000. Finally, CBIZ Investment Advisory Services LLC bought a new position in GE Aerospace in the 4th quarter valued at $29,000. Institutional investors own 74.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GE shares. Royal Bank of Canada restated an "outperform" rating and issued a $220.00 price objective on shares of GE Aerospace in a research note on Wednesday, April 23rd. Citigroup cut their price target on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. increased their price target on GE Aerospace from $190.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Redburn Atlantic assumed coverage on GE Aerospace in a research note on Tuesday, February 18th. They set a "buy" rating and a $250.00 price target for the company. Finally, UBS Group increased their price target on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $216.92.

GE Aerospace Stock Up 0.6 %

Shares of NYSE GE opened at $198.55 on Monday. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $214.21. The business has a 50-day simple moving average of $194.36 and a two-hundred day simple moving average of $186.66. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The company has a market cap of $213.10 billion, a P/E ratio of 33.15, a P/E/G ratio of 2.59 and a beta of 1.04.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings results 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. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. The firm had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.06 billion. Research analysts anticipate 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. Shareholders of record on Monday, March 10th were issued a $0.36 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.44 annualized dividend and a dividend yield of 0.73%. This is a boost from GE Aerospace's previous quarterly dividend of $0.28. GE Aerospace's dividend payout ratio (DPR) is presently 22.40%.

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.

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