Castleark Management LLC Cuts Stock Holdings in GE Aerospace $GE

Castleark Management LLC lowered its position in GE Aerospace (NYSE:GE) by 29.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,630 shares of the company’s stock after selling 12,120 shares during the period. Castleark Management LLC’s holdings in GE Aerospace were worth $7,369,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of GE Aerospace in the second quarter valued at approximately $3,408,828,000. Amundi raised its position in GE Aerospace by 124.0% in the first quarter. Amundi now owns 3,200,479 shares of the company’s stock worth $600,506,000 after acquiring an additional 1,771,944 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in GE Aerospace by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock valued at $5,030,028,000 after acquiring an additional 1,492,486 shares during the period. Vanguard Group Inc. grew its stake in shares of GE Aerospace by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 91,989,511 shares of the company’s stock worth $23,677,180,000 after purchasing an additional 1,482,069 shares during the period. Finally, 1832 Asset Management L.P. grew its stake in shares of GE Aerospace by 7,406.4% during the 1st quarter. 1832 Asset Management L.P. now owns 1,212,209 shares of the company’s stock worth $242,624,000 after purchasing an additional 1,196,060 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Price Performance

GE stock opened at $300.23 on Friday. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $316.67. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.76 and a current ratio of 1.08. The stock’s 50 day moving average price is $299.55 and its 200 day moving average price is $278.24. The firm has a market cap of $316.69 billion, a P/E ratio of 40.08, a PEG ratio of 2.33 and a beta of 1.40.

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

GE Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 26th. Shareholders of record on Monday, December 29th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Monday, December 29th. GE Aerospace’s dividend payout ratio is 19.23%.

Wall Street Analyst Weigh In

GE has been the topic of a number of research analyst reports. BNP Paribas Exane assumed coverage on shares of GE Aerospace in a report on Tuesday, November 18th. They set an “underperform” rating on the stock. Bank of America lifted their price target on shares of GE Aerospace from $310.00 to $365.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Zacks Research cut GE Aerospace from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. BNP Paribas raised GE Aerospace to a “strong sell” rating in a report on Tuesday, November 18th. Finally, Citigroup began coverage on GE Aerospace in a report on Thursday. They issued a “buy” rating and a $386.00 target price on the stock. Sixteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, GE Aerospace currently has a consensus rating of “Moderate Buy” and a consensus target price of $309.94.

Insider Transactions at GE Aerospace

In other GE Aerospace news, SVP Russell Stokes sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $297.71, for a total transaction of $2,381,680.00. Following the sale, the senior vice president directly owned 150,434 shares of the company’s stock, valued at $44,785,706.14. This trade represents a 5.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.21% of the company’s stock.

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.