GE Aerospace (NYSE:GE) Shares Up 1.2% – Here’s Why

Shares of GE Aerospace (NYSE:GE) were up 1.2% during mid-day trading on Monday . The stock traded as high as $219.98 and last traded at $217.56. Approximately 1,625,339 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 5,343,360 shares. The stock had previously closed at $214.96.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GE shares. Bank of America raised their target price on shares of GE Aerospace from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Wells Fargo & Company raised their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Northcoast Research upgraded shares of GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 target price on the stock in a report on Wednesday, April 9th. Redburn Atlantic assumed coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price for the company. Finally, UBS Group boosted their target price 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. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $216.92.

GE Aerospace Stock Performance

The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The business’s fifty day simple moving average is $195.24 and its 200-day simple moving average is $187.97. The firm has a market capitalization of $233.25 billion, a PE ratio of 36.52, a price-to-earnings-growth ratio of 2.59 and a beta of 1.31.

GE Aerospace (NYSE:GE) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.20. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. As a group, equities research analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, March 10th were given a dividend of $0.36 per share. The ex-dividend date was Monday, March 10th. This is an increase from GE Aerospace’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a yield of 0.66%. GE Aerospace’s dividend payout ratio is 22.40%.

Insider Buying and Selling at GE Aerospace

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the company’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the transaction, the vice president now directly owns 11,540 shares in the company, valued at $2,270,264.20. This represents a 26.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the company’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the transaction, the senior vice president now owns 8,805 shares in the company, valued at $1,766,899.35. This represents a 15.39% 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

Institutional investors have recently added to or reduced their stakes in the business. IMA Advisory Services Inc. purchased a new position in GE Aerospace during the 1st quarter valued at about $28,000. Copia Wealth Management raised its holdings in GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company’s stock worth $29,000 after purchasing an additional 142 shares in the last quarter. New Age Alpha Advisors LLC raised its holdings in GE Aerospace by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock worth $25,000 after purchasing an additional 84 shares in the last quarter. O Brien Wealth Partners LLC bought a new position in GE Aerospace in the first quarter worth about $33,000. Finally, Hager Investment Management Services LLC bought a new position in GE Aerospace in the fourth quarter worth about $27,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

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.