Castleark Management LLC Increases Position in GE Aerospace $GE

Castleark Management LLC increased its position in shares of GE Aerospace (NYSE:GE) by 72.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,830 shares of the company’s stock after purchasing an additional 22,150 shares during the period. GE Aerospace accounts for 0.5% of Castleark Management LLC’s portfolio, making the stock its 29th largest holding. Castleark Management LLC’s holdings in GE Aerospace were worth $19,744,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Auto Owners Insurance Co raised its position in shares of GE Aerospace by 52,247.5% during the fourth quarter. Auto Owners Insurance Co now owns 65,721,281 shares of the company’s stock valued at $2,024,413,000 after buying an additional 65,595,733 shares during the last quarter. Norges Bank bought a new position in shares of GE Aerospace during the fourth quarter worth $4,444,736,000. Amundi boosted its position in shares of GE Aerospace by 135.2% during the first quarter. Amundi now owns 6,119,975 shares of the company’s stock worth $1,736,665,000 after acquiring an additional 3,518,278 shares during the last quarter. Jennison Associates LLC grew its stake in GE Aerospace by 37.7% during the first quarter. Jennison Associates LLC now owns 11,026,006 shares of the company’s stock valued at $3,128,850,000 after acquiring an additional 3,017,937 shares in the last quarter. Finally, Corient Private Wealth LLC grew its stake in GE Aerospace by 382.1% during the fourth quarter. Corient Private Wealth LLC now owns 2,757,281 shares of the company’s stock valued at $849,325,000 after acquiring an additional 2,185,321 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling at GE Aerospace

In other news, SVP Mohamed Ali sold 8,096 shares of the business’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $353.71, for a total transaction of $2,863,636.16. Following the completion of the sale, the senior vice president directly owned 20,666 shares of the company’s stock, valued at approximately $7,309,770.86. The trade was a 28.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. The Goldman Sachs Group reiterated a “buy” rating and issued a $410.00 price target on shares of GE Aerospace in a research note on Monday, July 20th. Seaport Research Partners assumed coverage on GE Aerospace in a research report on Tuesday, May 26th. They set a “buy” rating and a $375.00 price objective for the company. Jefferies Financial Group lifted their target price on GE Aerospace from $365.00 to $455.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Citigroup reissued a “buy” rating and set a $431.00 price target (up from $353.00) on shares of GE Aerospace in a research note on Wednesday, July 1st. Finally, Sanford C. Bernstein set a $421.00 price target on GE Aerospace and gave the company an “outperform” rating in a report on Thursday, July 23rd. Sixteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $390.59.

GE Aerospace Trading Up 2.3%

Shares of GE opened at $349.68 on Wednesday. The company’s fifty day simple moving average is $361.04 and its 200-day simple moving average is $327.48. The company has a market cap of $362.81 billion, a P/E ratio of 41.19, a P/E/G ratio of 2.50 and a beta of 1.36. The company has a current ratio of 0.98, a quick ratio of 0.67 and a debt-to-equity ratio of 0.96. GE Aerospace has a twelve month low of $267.42 and a twelve month high of $388.84.

GE Aerospace (NYSE:GE) last released its quarterly earnings results on Thursday, July 16th. The company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.16. GE Aerospace had a net margin of 17.72% and a return on equity of 40.56%. The firm had revenue of $12.63 billion during the quarter, compared to analysts’ expectations of $11.87 billion. During the same period in the previous year, the company earned $1.66 EPS. The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. GE Aerospace has set its FY 2026 guidance at 7.650-7.850 EPS. As a group, analysts expect that GE Aerospace will post 7.91 EPS for the current year.

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 27th. Stockholders of record on Monday, July 6th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, July 6th. GE Aerospace’s dividend payout ratio (DPR) is 22.14%.

GE Aerospace Company Profile

GE Aerospace (NYSE: GE) is the aerospace business of General Electric, focused on the design, manufacture and support of aircraft engines, integrated propulsion systems and related aftermarket services. The company serves commercial airlines, airframers, business and general aviation operators, and defense customers, providing propulsion solutions for a broad range of aircraft types from single?aisle airliners to widebody and military platforms.

Its product portfolio includes a family of commercial and military jet engines as well as spare parts, components and systems engineering.