Securian Asset Management Inc. Reduces Holdings in GE Aerospace (NYSE:GE)

Securian Asset Management Inc. reduced its position in shares of GE Aerospace (NYSE:GE) by 2.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,854 shares of the company’s stock after selling 1,314 shares during the period. Securian Asset Management Inc.’s holdings in GE Aerospace were worth $11,379,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GE. Copia Wealth Management raised its position in shares of GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company’s stock valued at $29,000 after purchasing an additional 142 shares in the last quarter. New Age Alpha Advisors LLC increased its stake in shares of GE Aerospace by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock worth $25,000 after buying an additional 84 shares during the last quarter. O Brien Wealth Partners LLC acquired a new stake in GE Aerospace in the first quarter valued at $33,000. Sumitomo Mitsui Financial Group Inc. bought a new position in GE Aerospace during the 4th quarter valued at $28,000. Finally, First Pacific Financial boosted its stake in GE Aerospace by 46.0% during the 1st quarter. First Pacific Financial now owns 165 shares of the company’s stock valued at $33,000 after acquiring an additional 52 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

GE Aerospace Stock Up 1.2%

GE Aerospace stock opened at $255.49 on Monday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. GE Aerospace has a one year low of $150.20 and a one year high of $260.55. The company has a 50-day simple moving average of $239.17 and a 200-day simple moving average of $209.03. The firm has a market capitalization of $272.45 billion, a P/E ratio of 39.73, a P/E/G ratio of 3.06 and a beta of 1.37.

GE Aerospace (NYSE:GE) last posted its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) 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 analyst estimates of $9.06 billion. As a group, equities analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.56%. GE Aerospace’s payout ratio is currently 22.40%.

Analysts Set New Price Targets

GE has been the topic of a number of recent analyst reports. Citigroup cut their target price on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Northcoast Research lowered GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Wells Fargo & Company upped their price objective on GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. UBS Group lifted their target price on GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Finally, Royal Bank Of Canada set a $275.00 price target on GE Aerospace and gave the company an “outperform” rating in a report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $223.75.

Insiders Place Their Bets

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

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.