GE Aerospace (NYSE:GE) Shares Up 4% – What’s Next?

GE Aerospace (NYSE:GE)’s share price was up 4% during trading on Thursday. The company traded as high as $314.00 and last traded at $313.2790. Approximately 5,789,897 shares traded hands during mid-day trading, an increase of 13% from the average session volume of 5,141,856 shares. The stock had previously closed at $301.13.

Key Stories Impacting 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 Upgrades and Downgrades

GE has been the topic of a number of analyst reports. BNP Paribas Exane decreased their price objective on GE Aerospace from $305.00 to $280.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 21st. Wells Fargo & Company cut their target price on GE Aerospace from $390.00 to $380.00 and set an “overweight” rating for the company in a research note on Wednesday, September 30th. HC Wainwright set a $375.00 target price on GE Aerospace in a report on Wednesday, October 21st. Sanford C. Bernstein set a $376.00 price target on GE Aerospace in a research report on Friday, October 23rd. Finally, Susquehanna lowered their price target on shares of GE Aerospace from $430.00 to $400.00 and set a “positive” rating on the stock in a report on Wednesday, October 21st. Sixteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $373.45.

GE Aerospace Trading Down 3.7%

The stock has a market cap of $311.64 billion, a P/E ratio of 34.78, a PEG ratio of 2.13 and a beta of 1.38. The firm’s fifty day moving average price is $317.37 and its two-hundred day moving average price is $323.12. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.98 and a quick ratio of 0.68.

GE Aerospace (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 20th. The company reported $2.25 earnings per share (EPS) for the quarter, beating 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 company had revenue of $13.29 billion during the quarter, compared to analyst estimates of $12.88 billion. During the same quarter last year, the company earned $1.66 earnings per share. The firm’s quarterly revenue was up 24.7% on a year-over-year basis. As a group, equities research analysts forecast that GE Aerospace will post 8.16 EPS for the current year.

GE Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Monday, October 5th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, October 5th. GE Aerospace’s dividend payout ratio (DPR) is 21.68%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of GE. Susquehanna Fundamental Investments LLC boosted its holdings in shares of GE Aerospace by 261.0% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 213,603 shares of the company’s stock valued at $79,830,000 after acquiring an additional 154,429 shares during the last quarter. Christensen King & Associates Investment Services Inc. purchased a new position in shares of GE Aerospace during the third quarter valued at approximately $4,934,000. HWG Holdings LP raised its holdings in shares of GE Aerospace by 54.7% during the third quarter. HWG Holdings LP now owns 15,640 shares of the company’s stock valued at $4,884,000 after purchasing an additional 5,531 shares during the last quarter. Clough Capital Partners L P lifted its position in GE Aerospace by 37.1% during the first quarter. Clough Capital Partners L P now owns 70,535 shares of the company’s stock valued at $20,016,000 after purchasing an additional 19,105 shares during the period. Finally, Ascentis Independent Advisors lifted its position in GE Aerospace by 207.3% during the first quarter. Ascentis Independent Advisors now owns 4,317 shares of the company’s stock valued at $1,225,000 after purchasing an additional 2,912 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

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.