Hartford Investment Management Co. Cuts Position in GE Aerospace (NYSE:GE)

Hartford Investment Management Co. reduced its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 2.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,499 shares of the company's stock after selling 1,446 shares during the quarter. Hartford Investment Management Co.'s holdings in GE Aerospace were worth $13,110,000 as of its most recent SEC filing.

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A number of other institutional investors also recently added to or reduced their stakes in the stock. New Age Alpha Advisors LLC lifted its holdings in shares of GE Aerospace by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after purchasing an additional 84 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new position in GE Aerospace during the 4th quarter worth $28,000. Putney Financial Group LLC acquired a new position in GE Aerospace during the 4th quarter valued at about $28,000. IMA Advisory Services Inc. purchased a new stake in GE Aerospace in the first quarter valued at about $28,000. Finally, Copia Wealth Management raised its stake in GE Aerospace by 14,200.0% in 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. Institutional investors own 74.77% of the company's stock.

GE Aerospace Price Performance

Shares of GE opened at $270.90 on Friday. The business's 50-day moving average is $251.39 and its two-hundred day moving average is $217.73. The company has a market capitalization of $287.27 billion, a P/E ratio of 37.78, a P/E/G ratio of 2.94 and a beta of 1.37. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $274.94. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04.

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GE Aerospace (NYSE:GE - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. The firm had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The company's revenue was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.20 earnings per share. Research analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

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

Analyst Upgrades and Downgrades

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A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Barclays boosted their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company raised their price target on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Royal Bank Of Canada lifted their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Finally, UBS Group upped their target price on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, GE Aerospace currently has an average rating of "Moderate Buy" and an average price target of $232.92.

View Our Latest Research Report on GE Aerospace

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.

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