GE Aerospace (NYSE:GE) Stock Price Down 3.6% – Time to Sell?

by · The Cerbat Gem

Shares of GE Aerospace (NYSE:GE – Get Free Report) were down 3.6% during mid-day trading on Tuesday . The company traded as low as $248.43 and last traded at $248.07. Approximately 1,518,568 shares were traded during trading, a decline of 72% from the average daily volume of 5,478,357 shares. The stock had previously closed at $257.39.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GE. Citigroup cut their price target on GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Wells Fargo & Company lifted their target price on GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. 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 set a $275.00 target price on shares of GE Aerospace and gave the stock an “outperform” rating in a report on Tuesday, June 3rd. Finally, UBS Group boosted their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, GE Aerospace has a consensus rating of “Moderate Buy” and an average target price of $223.75.

View Our Latest Stock Analysis on GE

GE Aerospace Trading Down 2.9%

The stock has a market capitalization of $266.62 billion, a P/E ratio of 38.90, a price-to-earnings-growth ratio of 3.07 and a beta of 1.38. The stock’s fifty day moving average price is $230.21 and its two-hundred day moving average price is $203.91. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90.

GE Aerospace (NYSE:GE – Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.20. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. Equities research analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.58%. GE Aerospace’s dividend payout ratio is presently 22.40%.

Insider Activity at GE Aerospace

In other news, SVP Mohamed Ali sold 1,602 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the transaction, the senior vice president directly owned 8,805 shares of the company’s stock, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the business’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the transaction, the vice president directly owned 11,540 shares in the company, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GE. Vanguard Group Inc. increased its stake in shares of GE Aerospace by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company’s stock worth $18,115,065,000 after acquiring an additional 692,124 shares in the last quarter. FMR LLC increased its stake in shares of GE Aerospace by 1.5% during the fourth quarter. FMR LLC now owns 66,823,968 shares of the company’s stock valued at $11,145,570,000 after purchasing an additional 965,012 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of GE Aerospace by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock valued at $5,030,028,000 after purchasing an additional 1,492,486 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of GE Aerospace by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company’s stock worth $3,846,587,000 after purchasing an additional 529,457 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of GE Aerospace in the 4th quarter worth approximately $2,375,439,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

About GE Aerospace

(Get Free Report)

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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