GE Aerospace (NYSE:GE) Stock Price Down 3.7% – What’s Next?

Shares of GE Aerospace (NYSE:GE) were down 3.7% during trading on Friday. The stock traded as low as $299.98 and last traded at $301.58. Approximately 5,098,823 shares were traded during trading, a decline of 1% from the average daily volume of 5,141,456 shares. The stock had previously closed at $313.05.

Trending Headlines about GE Aerospace

Here are the key news stories impacting GE Aerospace this week:

• Positive Sentiment: GE approved NYCO’s French turbine oil for Boeing 787 GEnx-1B engines following Air France trials. The approval could support engine reliability and broaden GE’s aftermarket and maintenance opportunities. GE approves French turbine oil for Boeing 787 after Air France trials
• Positive Sentiment: A next-generation aircraft test flight over GE Aerospace’s Niskayuna, New York, research center highlights the company’s involvement in future aircraft and propulsion technologies. While not an immediate earnings catalyst, the activity reinforces GE’s long-term innovation pipeline. Future generation of planes test flight
• Positive Sentiment: GE’s engine and services businesses continue to benefit from commercial aviation demand, with analysts still recognizing the strength of its aftermarket franchise despite more cautious expectations. Is GE Aerospace Stock Worth More Than Its Competitors?

Analyst Ratings Changes

Several research firms have recently commented on GE. Vertical Research reiterated a “buy” rating and issued a $400.00 price objective on shares of GE Aerospace in a report on Tuesday, October 20th. Royal Bank Of Canada set a $376.00 target price on GE Aerospace in a report on Friday, October 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $378.00 price target on shares of GE Aerospace in a research report on Wednesday, October 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Aerospace in a research note on Thursday, October 15th. Finally, Susquehanna lowered their price objective on GE Aerospace from $430.00 to $400.00 and set a “positive” rating for the company in a research report on Wednesday, October 21st. Sixteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, GE Aerospace presently has an average rating of “Moderate Buy” and an average price target of $373.45.

GE Aerospace Trading Down 3.7%

The stock’s fifty day simple moving average is $318.25 and its two-hundred day simple moving average is $323.24. The firm has a market cap of $311.64 billion, a PE ratio of 34.78, a PEG ratio of 2.05 and a beta of 1.38. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.96.

GE Aerospace (NYSE:GE) last released its earnings results on Tuesday, October 20th. The company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.01 by $0.24. GE Aerospace had a return on equity of 44.43% and a net margin of 17.31%. The business had revenue of $13.29 billion for the quarter, compared to the consensus estimate of $12.88 billion. During the same period in the previous year, the company posted $1.66 earnings per share. The company’s revenue for the quarter was up 24.7% compared to the same quarter last year. On average, sell-side analysts forecast that GE Aerospace will post 8.16 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Monday, October 5th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, October 5th. GE Aerospace’s payout ratio is presently 21.68%.

Institutional Trading of GE Aerospace

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GK Wealth Management LLC purchased a new stake in GE Aerospace during the 3rd quarter valued at approximately $25,000. Paladin Partners LLC purchased a new position in shares of GE Aerospace in the second quarter worth $38,000. Parvin Asset Management LLC purchased a new position in shares of GE Aerospace in the second quarter worth $41,000. Clark Wealth Partners lifted its holdings in shares of GE Aerospace by 70.1% in the third quarter. Clark Wealth Partners now owns 114 shares of the company’s stock worth $36,000 after buying an additional 47 shares in the last quarter. Finally, Markowski Investments purchased a new position in shares of GE Aerospace in the second quarter worth $46,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Company Profile

GE Aerospace (NYSE: GE) is a global aerospace company that designs, develops, manufactures and services aircraft engines and related systems. Its products support commercial air transport, business and general aviation, military aircraft, and other defense applications. The company also provides engine components, avionics, mechanical systems, digital solutions and maintenance, repair and overhaul services.

GE Aerospace serves airlines, aircraft operators, leasing companies, airframers and government customers worldwide.