Alberta Investment Management Corp Sells 5,800 Shares of GE Aerospace (NYSE:GE)

Alberta Investment Management Corp trimmed its position in GE Aerospace (NYSE:GE) by 14.9% during the 1st quarter, HoldingsChannel reports. The firm owned 33,100 shares of the company’s stock after selling 5,800 shares during the quarter. Alberta Investment Management Corp’s holdings in GE Aerospace were worth $6,625,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GE. New Age Alpha Advisors LLC increased its stake in GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock worth $25,000 after acquiring an additional 84 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of GE Aerospace during the fourth quarter valued at approximately $28,000. Putney Financial Group LLC bought a new position in shares of GE Aerospace during the fourth quarter valued at approximately $28,000. IMA Advisory Services Inc. bought a new position in shares of GE Aerospace during the first quarter valued at approximately $28,000. Finally, Copia Wealth Management grew its stake in shares of GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company’s stock valued at $29,000 after buying an additional 142 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

GE Aerospace Stock Down 0.6%

Shares of NYSE GE opened at $269.49 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The firm has a market capitalization of $285.78 billion, a price-to-earnings ratio of 37.59, a PEG ratio of 2.92 and a beta of 1.44. The stock has a 50 day moving average price of $252.13 and a 200 day moving average price of $218.37. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $274.94.

GE Aerospace (NYSE:GE) last announced its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. The firm had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. GE Aerospace’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 earnings per share. Sell-side analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace’s dividend payout ratio is currently 20.08%.

Analyst Ratings Changes

GE has been the topic of a number of analyst reports. Royal Bank Of Canada upped their target price on GE Aerospace from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, July 18th. Wells Fargo & Company upped their target price on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Wall Street Zen raised GE Aerospace from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. Northcoast Research cut GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Finally, Barclays upped their target price on GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $232.92.

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.