Gabelli Funds LLC Has $69.39 Million Stake in GE Aerospace $GE

Key Points

• Gabelli Funds LLC sold 8,075 shares of GE Aerospace, reducing its holdings by 2.3%, and now owns 346,704 shares valued at approximately $69.4 million.
• GE Aerospace reported earnings per share (EPS) of $1.66, exceeding analysts' expectations of $1.43, with revenue up 21.2% year-over-year at $10.15 billion.
• The company has recently announced a quarterly dividend of $0.36 per share, translating to an annualized yield of 0.5%, with a dividend payout ratio of 20.08%.

Gabelli Funds LLC reduced its stake in GE Aerospace (NYSE:GE - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 346,704 shares of the company's stock after selling 8,075 shares during the quarter. Gabelli Funds LLC's holdings in GE Aerospace were worth $69,393,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GE. IMA Advisory Services Inc. purchased a new stake in GE Aerospace during the 1st quarter worth approximately $28,000. Copia Wealth Management grew its position in shares of GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after buying an additional 142 shares during the last quarter. O Brien Wealth Partners LLC purchased a new position in shares of GE Aerospace in the 1st quarter valued at $33,000. First Pacific Financial grew its position in shares of GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after buying an additional 52 shares during the last quarter. Finally, POM Investment Strategies LLC grew its position in shares of GE Aerospace by 1,078.6% in the 1st quarter. POM Investment Strategies LLC now owns 165 shares of the company's stock valued at $33,000 after buying an additional 151 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

GE Aerospace Trading Down 0.3%

Shares of GE traded down $0.89 during mid-day trading on Friday, hitting $275.11. The company had a trading volume of 5,032,213 shares, compared to its average volume of 5,943,389. The stock has a market cap of $291.74 billion, a PE ratio of 38.37, a P/E/G ratio of 2.94 and a beta of 1.44. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $281.50. The business's 50-day simple moving average is $262.83 and its 200-day simple moving average is $228.25.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. The business had revenue of $10.15 billion for the quarter, compared to analysts' expectations of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Sell-side analysts forecast 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 was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Monday, July 7th. GE Aerospace's dividend payout ratio is presently 20.08%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Citigroup reaffirmed a "buy" rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Royal Bank Of Canada increased their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Sanford C. Bernstein reiterated an "outperform" rating on shares of GE Aerospace in a research note on Friday, August 15th. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Finally, Barclays raised their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the stock 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.