State of New Jersey Common Pension Fund D Has $92.76 Million Stock Position in GE Aerospace $GE

State of New Jersey Common Pension Fund D lowered its stake in GE Aerospace (NYSE:GE) by 1.6% during the second quarter, Holdings Channel reports. The institutional investor owned 360,396 shares of the company’s stock after selling 5,772 shares during the period. State of New Jersey Common Pension Fund D’s holdings in GE Aerospace were worth $92,762,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ameriflex Group Inc. grew its stake in GE Aerospace by 23.5% in the 2nd quarter. Ameriflex Group Inc. now owns 1,742 shares of the company’s stock valued at $437,000 after buying an additional 331 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of GE Aerospace by 17.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company’s stock worth $1,647,000 after purchasing an additional 1,201 shares in the last quarter. Rainey & Randall Wealth Advisors Inc. acquired a new position in shares of GE Aerospace during the 1st quarter worth approximately $203,000. Concurrent Investment Advisors LLC grew its position in shares of GE Aerospace by 25.1% during the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company’s stock worth $8,065,000 after purchasing an additional 8,245 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of GE Aerospace by 7.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 182,120 shares of the company’s stock worth $46,876,000 after purchasing an additional 11,873 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of analyst reports. Sanford C. Bernstein increased their target price on shares of GE Aerospace from $343.00 to $374.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. TD Cowen increased their target price on shares of GE Aerospace from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. UBS Group set a $366.00 target price on shares of GE Aerospace and gave the stock a “buy” rating in a research report on Wednesday. Weiss Ratings restated a “buy (b)” rating on shares of GE Aerospace in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of GE Aerospace from a “hold” rating to a “buy” rating in a research report on Saturday. Fifteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, GE Aerospace currently has a consensus rating of “Moderate Buy” and an average price target of $284.27.

GE Aerospace Stock Performance

Shares of GE Aerospace stock opened at $303.97 on Friday. The company has a 50 day moving average of $289.19 and a 200-day moving average of $254.75. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $316.53. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 0.99. The company has a market cap of $320.63 billion, a PE ratio of 40.58, a price-to-earnings-growth ratio of 3.18 and a beta of 1.49.

GE Aerospace (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.20. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The company had revenue of $11.31 billion during the quarter, compared to the consensus estimate of $10.29 billion. During the same quarter in the prior year, the firm posted $1.15 EPS. The firm’s quarterly revenue was up 26.4% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, equities research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace’s dividend payout ratio is presently 19.23%.

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.