State of Tennessee Department of Treasury Trims Position in GE Aerospace (NYSE:GE)

State of Tennessee Department of Treasury lessened its holdings in GE Aerospace (NYSE:GE - Free Report) by 13.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 410,614 shares of the company's stock after selling 63,485 shares during the period. State of Tennessee Department of Treasury's holdings in GE Aerospace were worth $68,486,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of GE Aerospace by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company's stock worth $14,980,297,000 after buying an additional 410,172 shares during the period. FMR LLC raised its position in GE Aerospace by 1.5% during the fourth quarter. FMR LLC now owns 66,823,968 shares of the company's stock worth $11,145,570,000 after acquiring an additional 965,012 shares during the period. Geode Capital Management LLC lifted its holdings in 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 purchasing an additional 529,457 shares in the last quarter. Norges Bank acquired a new stake in shares of GE Aerospace in the fourth quarter valued at about $2,375,439,000. Finally, Invesco Ltd. increased its stake in shares of GE Aerospace by 14.4% during the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after purchasing an additional 1,204,910 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Up 2.4 %

NYSE:GE traded up $4.53 during mid-day trading on Wednesday, hitting $193.71. The stock had a trading volume of 7,234,281 shares, compared to its average volume of 5,423,904. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $214.21. The company has a market capitalization of $207.90 billion, a PE ratio of 32.34, a PEG ratio of 2.59 and a beta of 1.04. The stock has a 50-day simple moving average of $195.11 and a two-hundred day simple moving average of $186.48.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly 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 company had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. On average, equities research analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid a dividend of $0.36 per share. This is a positive change from GE Aerospace's previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.74%. The ex-dividend date is Monday, March 10th. GE Aerospace's dividend payout ratio (DPR) is currently 24.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Bank of America lifted their price objective on GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, January 27th. JPMorgan Chase & Co. boosted their price target on GE Aerospace from $190.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Northcoast Research raised shares of GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 target price for the company in a report on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of GE Aerospace from $235.00 to $228.00 and set a "buy" rating on the stock in a research report on Thursday, January 2nd. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $220.00 target price on shares of GE Aerospace in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $213.40.

GE Aerospace 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.