Assetmark Inc. Boosts Holdings in GE Aerospace (NYSE:GE)

Key Points

• Assetmark Inc. increased its stake in GE Aerospace by 0.9% in Q1, now holding 314,887 shares valued at approximately $63 million.
• GE Aerospace's recent quarterly earnings exceeded expectations, reporting an EPS of $1.66 and revenue of $10.15 billion, marking a 21.2% increase year-over-year.
• The company declared a quarterly dividend of $0.36, indicating a 0.53% dividend yield and a payout ratio of 20.08%.

Assetmark Inc. increased its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 0.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 314,887 shares of the company's stock after purchasing an additional 2,745 shares during the period. Assetmark Inc.'s holdings in GE Aerospace were worth $63,025,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its position in shares of GE Aerospace by 25.3% during the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock worth $2,003,000 after buying an additional 2,421 shares during the period. Revolve Wealth Partners LLC increased its stake in shares of GE Aerospace by 7.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock worth $375,000 after purchasing an additional 150 shares during the period. American Century Companies Inc. increased its stake in shares of GE Aerospace by 51.8% during the fourth quarter. American Century Companies Inc. now owns 299,935 shares of the company's stock worth $50,026,000 after purchasing an additional 102,319 shares during the period. Congress Wealth Management LLC DE grew its position in GE Aerospace by 7.2% during the fourth quarter. Congress Wealth Management LLC DE now owns 8,826 shares of the company's stock worth $1,472,000 after buying an additional 591 shares in the last quarter. Finally, Modern Wealth Management LLC boosted its holdings in shares of GE Aerospace by 25.6% in the 4th quarter. Modern Wealth Management LLC now owns 7,456 shares of the company's stock valued at $1,244,000 after purchasing an additional 1,522 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at GE Aerospace

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 shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the sale, the senior vice president owned 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.21% of the company's stock.

GE Aerospace Price Performance

NYSE GE traded up $3.27 on Friday, reaching $271.28. The company had a trading volume of 4,597,132 shares, compared to its average volume of 7,770,745. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $287.67 billion, a PE ratio of 37.84, a price-to-earnings-growth ratio of 3.06 and a beta of 1.37. The firm's 50 day moving average price is $248.37 and its 200 day moving average price is $215.00. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $272.83.

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

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.53%. GE Aerospace's payout ratio is presently 20.08%.

Analyst Ratings Changes

Several research firms recently weighed in on GE. Wells Fargo & Company raised their price objective on GE Aerospace from $34.00 to $38.00 in a report on Wednesday. UBS Group boosted 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. Barclays boosted their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday. Citigroup restated a "buy" rating and issued a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Finally, Royal Bank Of Canada boosted their target price on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $232.92.

GE Aerospace Company 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.