GE Aerospace (NYSE:GE) Stock Price Down 1.1% – Here’s What Happened

GE Aerospace (NYSE:GE)’s share price dropped 1.1% during mid-day trading on Monday . The company traded as low as $251.14 and last traded at $252.79. Approximately 1,225,240 shares traded hands during trading, a decline of 77% from the average daily volume of 5,363,893 shares. The stock had previously closed at $255.63.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Redburn Atlantic initiated coverage on shares of GE Aerospace in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective on the stock. Royal Bank of Canada set a $275.00 price target on shares of GE Aerospace and gave the stock an “outperform” rating in a research note on Tuesday, June 3rd. Citigroup decreased their target price on GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company lifted their price objective on GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Finally, Northcoast Research lowered shares of GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, GE Aerospace presently has an average rating of “Moderate Buy” and a consensus price target of $221.15.

GE Aerospace Stock Down 1.0%

The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The company has a 50 day simple moving average of $209.94 and a two-hundred day simple moving average of $196.34. The firm has a market capitalization of $269.82 billion, a P/E ratio of 42.25, a P/E/G ratio of 2.59 and a beta of 1.38.

GE Aerospace (NYSE:GE) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.29 by $0.20. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. On average, equities analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

Insider Buying and Selling at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the firm’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the sale, the senior vice president now owns 8,805 shares of the company’s stock, valued at $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the sale, the vice president now owns 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. 0.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On GE Aerospace

Several hedge funds have recently bought and sold shares of GE. Truvestments Capital LLC raised its holdings in shares of GE Aerospace by 19.5% in the 1st quarter. Truvestments Capital LLC now owns 282 shares of the company’s stock valued at $56,000 after buying an additional 46 shares during the period. Sfmg LLC grew its position in GE Aerospace by 2.4% in the 1st quarter. Sfmg LLC now owns 2,088 shares of the company’s stock valued at $418,000 after acquiring an additional 48 shares in the last quarter. SGL Investment Advisors Inc. increased its stake in GE Aerospace by 3.6% during the first quarter. SGL Investment Advisors Inc. now owns 1,413 shares of the company’s stock worth $303,000 after purchasing an additional 49 shares during the period. Ritter Daniher Financial Advisory LLC DE lifted its position in shares of GE Aerospace by 17.6% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company’s stock worth $56,000 after purchasing an additional 50 shares in the last quarter. Finally, Hudock Inc. boosted its stake in shares of GE Aerospace by 1.8% in the first quarter. Hudock Inc. now owns 2,905 shares of the company’s stock valued at $582,000 after purchasing an additional 50 shares during the period. 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.