GE Aerospace (NYSE:GE) Trading Down 4% – What’s Next?
by Kim Johansen · The Markets DailyGE Aerospace (NYSE:GE – Get Free Report)’s share price traded down 4% during trading on Tuesday . The stock traded as low as $309.66 and last traded at $311.9810. 10,195,354 shares were traded during trading, an increase of 113% from the average session volume of 4,784,110 shares. The stock had previously closed at $325.12.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on GE. TD Cowen boosted their target price on GE Aerospace from $330.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. JPMorgan Chase & Co. boosted their price objective on shares of GE Aerospace from $275.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Wall Street Zen downgraded shares of GE Aerospace from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. BNP Paribas Exane lifted their target price on shares of GE Aerospace from $275.00 to $305.00 and gave the stock an “underperform” rating in a research report on Thursday, January 8th. Finally, UBS Group reiterated a “buy” rating and set a $368.00 target price (up from $366.00) on shares of GE Aerospace in a research note on Thursday, January 15th. Sixteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $314.00.
Check Out Our Latest Report on GE Aerospace
GE Aerospace Stock Down 4.0%
The company has a 50-day moving average of $305.25 and a two-hundred day moving average of $291.16. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.08 and a quick ratio of 0.76. The company has a market capitalization of $329.08 billion, a PE ratio of 41.65, a P/E/G ratio of 2.22 and a beta of 1.40.
GE Aerospace (NYSE:GE – Get Free Report) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.20. The firm had revenue of $11.31 billion for the quarter, compared to analysts’ expectations of $10.29 billion. GE Aerospace had a return on equity of 34.01% and a net margin of 18.34%.The business’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.15 EPS. Sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.
GE Aerospace Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, January 26th. Shareholders of record on Monday, December 29th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, December 29th. GE Aerospace’s dividend payout ratio is presently 19.23%.
Insider Activity
In other GE Aerospace news, SVP Russell Stokes sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $297.71, for a total transaction of $2,381,680.00. Following the sale, the senior vice president directly owned 150,434 shares of the company’s stock, valued at $44,785,706.14. This trade represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bare Financial Services Inc boosted its position in shares of GE Aerospace by 81.1% during the 2nd quarter. Bare Financial Services Inc now owns 96 shares of the company’s stock valued at $25,000 after acquiring an additional 43 shares during the last quarter. REAP Financial Group LLC purchased a new position in shares of GE Aerospace in the 3rd quarter worth $25,000. Marquette Asset Management LLC bought a new stake in shares of GE Aerospace in the 3rd quarter worth about $26,000. Lavaca Capital LLC increased its holdings in shares of GE Aerospace by 1,666.7% in the 2nd quarter. Lavaca Capital LLC now owns 106 shares of the company’s stock worth $27,000 after buying an additional 100 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC raised its position in shares of GE Aerospace by 147.2% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 89 shares of the company’s stock valued at $27,000 after buying an additional 53 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.
GE Aerospace Company Profile
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.