5,795 Shares in GE Aerospace $GE Bought by ICONIQ Capital LLC

Key Points

• ICONIQ Capital LLC has acquired 5,795 shares of GE Aerospace, valued at approximately $1,160,000, as reported in its recent 13F filing with the SEC.
• GE Aerospace reported $1.66 earnings per share, exceeding analysts' estimates, and generated a revenue of $10.15 billion, marking a 21.2% year-over-year increase.
• The company announced a quarterly dividend of $0.36 per share, equating to an annual yield of 0.5% and a payout ratio of 20.08%.

ICONIQ Capital LLC acquired a new position in shares of GE Aerospace (NYSE:GE - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,795 shares of the company's stock, valued at approximately $1,160,000.

A number of other hedge funds have also added to or reduced their stakes in the business. IMA Advisory Services Inc. bought a new position in shares of GE Aerospace in the 1st quarter valued at about $28,000. Copia Wealth Management boosted its holdings in shares of GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after buying an additional 142 shares during the period. O Brien Wealth Partners LLC acquired a new stake in GE Aerospace in the 1st quarter worth about $33,000. First Pacific Financial raised its stake in GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after purchasing an additional 52 shares in the last quarter. Finally, POM Investment Strategies LLC raised its stake in GE Aerospace by 1,078.6% in the 1st quarter. POM Investment Strategies LLC now owns 165 shares of the company's stock worth $33,000 after purchasing an additional 151 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

GE Aerospace Price Performance

GE opened at $266.7680 on Friday. The firm has a market cap of $282.89 billion, a P/E ratio of 37.21, a PEG ratio of 2.87 and a beta of 1.44. The firm has a 50-day moving average of $259.88 and a 200 day moving average of $226.54. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $281.50.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.23. The company had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm's revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. On average, research analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's dividend payout ratio is presently 20.08%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GE. Sanford C. Bernstein restated an "outperform" rating on shares of GE Aerospace in a research report on Friday, August 15th. Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Citigroup reissued a "buy" rating and set a $296.00 target price (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. UBS Group upped their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Finally, Barclays upped their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $232.92.

About GE Aerospace

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.

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