Mediolanum International Funds Ltd Has $49.45 Million Stock Holdings in GE Aerospace (NYSE:GE)

Key Points

• Mediolanum International Funds Ltd has reduced its stake in GE Aerospace by 1.6%, holding 247,372 shares valued at approximately $49.4 million.
• Institutional investors own 74.77% of GE Aerospace, with notable stake increases from firms like New Age Alpha Advisors LLC and Copia Wealth Management.
• GE Aerospace reported earnings of $1.66 EPS for the last quarter, exceeding expectations and marking a 21.2% revenue increase compared to the previous year.

Mediolanum International Funds Ltd cut its position in GE Aerospace (NYSE:GE - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 247,372 shares of the company's stock after selling 4,048 shares during the period. Mediolanum International Funds Ltd's holdings in GE Aerospace were worth $49,445,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in GE. Ritter Daniher Financial Advisory LLC DE boosted its stake in shares of GE Aerospace by 17.6% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company's stock worth $56,000 after buying an additional 50 shares during the last quarter. Hudock Inc. boosted its position in GE Aerospace by 1.8% during the first quarter. Hudock Inc. now owns 2,905 shares of the company's stock valued at $582,000 after buying an additional 50 shares during the period. First Pacific Financial boosted its position in GE Aerospace by 46.0% during the first 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 period. First Heartland Consultants Inc. boosted its position in GE Aerospace by 1.2% during the fourth quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company's stock valued at $789,000 after buying an additional 54 shares during the period. Finally, Affinity Wealth Management LLC boosted its holdings in shares of GE Aerospace by 4.4% during the first quarter. Affinity Wealth Management LLC now owns 1,318 shares of the company's stock worth $264,000 after purchasing an additional 56 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

GE Aerospace Stock Performance

Shares of GE traded down $0.60 during midday trading on Tuesday, hitting $270.01. 1,655,357 shares of the stock traded hands, compared to its average volume of 6,215,469. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $273.80. The firm has a market capitalization of $286.33 billion, a PE ratio of 37.68, a price-to-earnings-growth ratio of 3.11 and a beta of 1.37. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The business's 50 day moving average price is $249.09 and its two-hundred day moving average price is $216.28.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share 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 the consensus estimate of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. GE Aerospace's revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.20 EPS. Equities research analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The business 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 0.53%. GE Aerospace's payout ratio is currently 20.08%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GE shares. UBS Group upped their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Royal Bank Of Canada upped their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, Barclays boosted their price target 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. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to 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.