GE Aerospace (NYSE:GE) Trading Down 1.2% – What’s Next?

GE Aerospace (NYSE:GE)’s stock price traded down 1.2% during trading on Friday . The stock traded as low as $233.70 and last traded at $237.12. 2,294,143 shares traded hands during trading, a decline of 58% from the average session volume of 5,419,012 shares. The stock had previously closed at $239.99.

Wall Street Analyst Weigh In

GE has been the subject of a number of research reports. Redburn Atlantic started coverage on GE Aerospace in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target for the company. UBS Group raised their target price on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Royal Bank of Canada set a $275.00 target price on GE Aerospace and gave the stock an “outperform” rating in a report on Tuesday, June 3rd. Citigroup dropped their price target on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, Northcoast Research cut shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $221.15.

GE Aerospace Price Performance

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 firm has a market cap of $251.74 billion, a price-to-earnings ratio of 39.41, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. The stock has a 50-day moving average of $216.42 and a two-hundred day moving average of $198.36.

GE Aerospace (NYSE:GE) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $9.06 billion. On average, analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

Insider Buying and Selling

In related news, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction dated 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 directly owns 11,540 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction dated Tuesday, April 29th. The stock was 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 directly owns 8,805 shares of the company’s stock, valued at approximately $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 Investors Weigh In On GE Aerospace

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in GE Aerospace by 25.3% in the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company’s stock valued at $2,003,000 after buying an additional 2,421 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in GE Aerospace by 7.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company’s stock valued at $375,000 after buying an additional 150 shares during the last quarter. Bogart Wealth LLC grew its holdings in GE Aerospace by 23.0% in the 4th quarter. Bogart Wealth LLC now owns 535 shares of the company’s stock valued at $89,000 after buying an additional 100 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in GE Aerospace by 40.9% in the 4th quarter. Vontobel Holding Ltd. now owns 22,068 shares of the company’s stock valued at $3,681,000 after buying an additional 6,404 shares during the last quarter. Finally, Banque Pictet & Cie SA grew its holdings in GE Aerospace by 53.8% in the 4th quarter. Banque Pictet & Cie SA now owns 6,484 shares of the company’s stock valued at $1,081,000 after buying an additional 2,268 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

About GE Aerospace

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.