HB Wealth Management LLC has increased its stake in GE Aerospace (NYSE: GE) by an impressive 22.5% during the third quarter of 2023. According to their recent Form 13F filing with the Securities and Exchange Commission, the firm now owns 32,631 shares after acquiring an additional 5,995 shares during this period. These holdings are valued at approximately $9.8 million.
A number of other institutional investors have also adjusted their positions in GE Aerospace. Ameriflex Group Inc. enhanced its holdings by 23.5% in the second quarter, now owning 1,742 shares worth $437,000 after purchasing 331 additional shares. Diversified Trust Co. increased its position by 21.3% in the third quarter, now holding 32,021 shares valued at $9.6 million after adding 5,625 shares. Cadinha & Co. LLC made a significant move, raising its stake by 154.8% to own 97,280 shares worth $29.3 million after acquiring 59,106 shares.
The Police & Firemen’s Retirement System of New Jersey has also marked its presence by increasing its stake by 1.8% in the second quarter, now owning 159,682 shares valued at $41.1 million. Additionally, the Czech National Bank boosted its position by 3.3% during the third quarter, bringing its total to 269,330 shares worth $81.0 million. Currently, institutional investors hold 74.77% of GE Aerospace’s shares.
Insider Activity and Stock Performance
In related news, on November 19, 2023, Senior Vice President Russell Stokes sold 8,000 shares at an average price of $297.71, totaling approximately $2.4 million. Following this transaction, Stokes holds 150,434 shares, valued at around $44.8 million, reflecting a 5.05% decrease in his overall position. Company insiders control 0.21% of the stock.
As for GE Aerospace’s stock performance, shares opened at $314.62 on Friday. The stock has experienced significant fluctuations over the past year, with a 52-week low of $159.36 and a high of $332.79. The company has a market capitalization of $331.86 billion and a price-to-earnings (P/E) ratio of 42.00. Its current ratio stands at 1.08, and its debt-to-equity ratio is 0.99.
Quarterly Earnings and Dividend Announcement
GE Aerospace recently reported its quarterly earnings on October 21, 2023. The company achieved earnings per share (EPS) of $1.66, surpassing the consensus estimate of $1.46 by $0.20. This performance reflects a net margin of 18.34% and a return on equity of 34.01%. Revenue for the quarter reached $11.31 billion, exceeding analysts’ expectations of $10.29 billion, and marking a 26.4% increase compared to the same quarter last year. For the fiscal year 2025, the company has projected an EPS of between $6.00 and $6.20.
In addition to its strong financial results, GE Aerospace has declared a quarterly dividend of $0.36, set to be paid on January 26, 2025, to shareholders of record as of December 29, 2023. The ex-dividend date is also December 29, 2023, representing an annualized dividend of $1.44 and a dividend yield of 0.5%. The dividend payout ratio currently stands at 19.23%.
GE Aerospace, a division of General Electric, focuses on designing, manufacturing, and supporting aircraft engines and related services for various aviation sectors, including commercial airlines and military platforms. Its extensive product portfolio includes both commercial and military jet engines, as well as aftermarket services and components.
