GE Aerospace (NYSE:GE) Shares Acquired by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. lifted its stake in GE Aerospace (NYSE:GE) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 378,598 shares of the company’s stock after purchasing an additional 1,276 shares during the quarter. Clark Capital Management Group Inc.’s holdings in GE Aerospace were worth $63,146,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GE. Norges Bank purchased a new position in shares of GE Aerospace during the 4th quarter worth $2,375,439,000. Invesco Ltd. lifted its position in GE Aerospace by 14.4% in the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company’s stock valued at $1,591,970,000 after buying an additional 1,204,910 shares during the last quarter. Raymond James Financial Inc. purchased a new position in GE Aerospace during the fourth quarter worth about $194,208,000. FMR LLC increased its position in shares of GE Aerospace by 1.5% during the fourth quarter. FMR LLC now owns 66,823,968 shares of the company’s stock valued at $11,145,570,000 after acquiring an additional 965,012 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of GE Aerospace by 11.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 7,551,038 shares of the company’s stock valued at $1,259,438,000 after acquiring an additional 781,574 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Performance

Shares of GE Aerospace stock opened at $209.90 on Thursday. The firm has a market capitalization of $223.83 billion, a P/E ratio of 35.04, a P/E/G ratio of 2.59 and a beta of 1.31. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $214.21. The firm’s 50 day moving average is $194.66 and its two-hundred day moving average is $187.47.

GE Aerospace (NYSE:GE) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.20. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. Research analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, March 10th were paid a dividend of $0.36 per share. The ex-dividend date was Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.69%. This is a boost from GE Aerospace’s previous quarterly dividend of $0.28. GE Aerospace’s dividend payout ratio is currently 22.40%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GE. Royal Bank of Canada reaffirmed an “outperform” rating and set a $220.00 price objective on shares of GE Aerospace in a research report on Wednesday, April 23rd. Wells Fargo & Company lifted 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. Bank of America raised their target price on GE Aerospace from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. JPMorgan Chase & Co. lifted their target price on GE Aerospace from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Northcoast Research upgraded shares of GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 price objective for the company in a report on Wednesday, April 9th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, GE Aerospace has a consensus rating of “Moderate Buy” and a consensus price target of $216.92.

Insiders Place Their Bets

In other news, SVP Mohamed Ali sold 1,602 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the sale, the senior vice president now owns 8,805 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this link. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the completion of the transaction, the vice president now owns 11,540 shares in the company, valued at approximately $2,270,264.20. This trade represents a 26.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

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.