Illinois Municipal Retirement Fund Raises Stock Position in GE Aerospace (NYSE:GE)

Illinois Municipal Retirement Fund grew its holdings in GE Aerospace (NYSE:GE) by 65.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,890 shares of the company’s stock after acquiring an additional 25,740 shares during the period. Illinois Municipal Retirement Fund’s holdings in GE Aerospace were worth $12,988,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GE. Truvestments Capital LLC grew its position in GE Aerospace by 26.2% in the fourth quarter. Truvestments Capital LLC now owns 236 shares of the company’s stock worth $39,000 after acquiring an additional 49 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE grew its position in GE Aerospace by 17.6% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company’s stock worth $56,000 after acquiring an additional 50 shares in the last quarter. Ballast Advisors LLC lifted its stake in shares of GE Aerospace by 2.5% in the fourth quarter. Ballast Advisors LLC now owns 2,093 shares of the company’s stock worth $349,000 after buying an additional 51 shares during the last quarter. First Pacific Financial boosted its holdings in shares of GE Aerospace by 46.0% during the 1st quarter. First Pacific Financial now owns 165 shares of the company’s stock worth $33,000 after buying an additional 52 shares during the period. Finally, Blue Barn Wealth LLC boosted its holdings in shares of GE Aerospace by 3.8% during the 4th quarter. Blue Barn Wealth LLC now owns 1,466 shares of the company’s stock worth $245,000 after buying an additional 54 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GE shares. Royal Bank Of Canada set a $275.00 price objective on shares of GE Aerospace and gave the stock an “outperform” rating in a report on Tuesday, June 3rd. UBS Group upped their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Wells Fargo & Company upped their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Citigroup decreased their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, Northcoast Research downgraded shares of GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.15.

Insider Buying and Selling at GE Aerospace

In other news, VP Robert M. Giglietti sold 4,104 shares of the firm’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the completion of the transaction, the vice president now directly owns 11,540 shares of the company’s stock, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the firm’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the transaction, the senior vice president now directly owns 8,805 shares of the company’s stock, valued at $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

GE Aerospace Price Performance

Shares of GE Aerospace stock opened at $254.50 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.08 and a quick ratio of 0.77. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $260.55. The firm has a fifty day moving average price of $228.63 and a two-hundred day moving average price of $202.77. The company has a market cap of $271.39 billion, a PE ratio of 39.58, a price-to-earnings-growth ratio of 3.03 and a beta of 1.38.

GE Aerospace (NYSE:GE) last issued 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. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. Analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.57%. GE Aerospace’s dividend payout ratio (DPR) is presently 22.40%.

About GE Aerospace

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.