Gabelli Funds LLC Sells 21,092 Shares of GE Aerospace $GE

Gabelli Funds LLC cut its position in GE Aerospace (NYSE:GE) by 6.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 289,635 shares of the company’s stock after selling 21,092 shares during the quarter. GE Aerospace accounts for approximately 0.7% of Gabelli Funds LLC’s investment portfolio, making the stock its 21st biggest holding. Gabelli Funds LLC’s holdings in GE Aerospace were worth $108,245,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GE. Blueline Advisors LLC bought a new stake in shares of GE Aerospace during the fourth quarter valued at approximately $25,000. Ankerstar Wealth LLC purchased a new position in GE Aerospace in the 4th quarter worth approximately $31,000. Paladin Partners LLC bought a new position in GE Aerospace in the 2nd quarter valued at approximately $38,000. Tucker Asset Management LLC bought a new position in GE Aerospace in the 4th quarter valued at approximately $32,000. Finally, Burkett Financial Services LLC boosted its stake in GE Aerospace by 28.9% during the 2nd quarter. Burkett Financial Services LLC now owns 125 shares of the company’s stock valued at $47,000 after purchasing an additional 28 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on GE shares. Citigroup reissued a “buy” rating and issued a $431.00 target price (up from $353.00) on shares of GE Aerospace in a report on Wednesday, July 1st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $400.00 price target (up from $355.00) on shares of GE Aerospace in a report on Wednesday, July 15th. UBS Group increased their price objective on GE Aerospace from $426.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Wall Street Zen downgraded GE Aerospace from a “buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Seaport Research Partners began coverage on GE Aerospace in a research report on Tuesday, May 26th. They issued a “buy” rating and a $375.00 target price for the company. Sixteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $390.59.

GE Aerospace Trading Up 1.2%

GE Aerospace stock opened at $348.85 on Friday. GE Aerospace has a 52-week low of $266.37 and a 52-week high of $388.84. The company has a market cap of $361.95 billion, a P/E ratio of 41.09, a P/E/G ratio of 2.54 and a beta of 1.36. The company has a quick ratio of 0.67, a current ratio of 0.98 and a debt-to-equity ratio of 0.96. The business has a 50-day simple moving average of $361.10 and a two-hundred day simple moving average of $326.84.

GE Aerospace (NYSE:GE) last issued its quarterly earnings data on Thursday, July 16th. The company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.16. The firm had revenue of $12.63 billion for the quarter, compared to analysts’ expectations of $11.87 billion. GE Aerospace had a net margin of 17.72% and a return on equity of 40.56%. The business’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.66 EPS. GE Aerospace has set its FY 2026 guidance at 7.650-7.850 EPS. Analysts predict that GE Aerospace will post 7.91 EPS for the current year.

GE Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 27th. Shareholders of record on Monday, July 6th were paid a dividend of $0.47 per share. The ex-dividend date was Monday, July 6th. This represents a $1.88 dividend on an annualized basis and a yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is presently 22.14%.

Insider Buying and Selling

In other news, SVP Mohamed Ali sold 8,096 shares of the stock in a transaction on Friday, July 24th. The shares were sold at an average price of $353.71, for a total value of $2,863,636.16. Following the completion of the sale, the senior vice president directly owned 20,666 shares of the company’s stock, valued at $7,309,770.86. This represents a 28.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.19% of the company’s stock.

About GE Aerospace

GE Aerospace (NYSE: GE) is the aerospace business of General Electric, focused on the design, manufacture and support of aircraft engines, integrated propulsion systems and related aftermarket services. The company serves commercial airlines, airframers, business and general aviation operators, and defense customers, providing propulsion solutions for a broad range of aircraft types from single?aisle airliners to widebody and military platforms.

Its product portfolio includes a family of commercial and military jet engines as well as spare parts, components and systems engineering.