GE Aerospace (NYSE:GE) Shares Climb 3.9% – Here’s What Happened

GE Aerospace (NYSE:GE)’s share price was up 3.9% during mid-day trading on Monday. The company traded as high as $337.55 and last traded at $335.8020. 4,128,384 shares changed hands during trading, a decline of 20% from the average daily volume of 5,150,911 shares. The stock had previously closed at $323.24.

Analysts Set New Price Targets

Several research analysts recently issued reports on GE shares. Melius Research set a $350.00 target price on shares of GE Aerospace and gave the stock a “hold” rating in a research note on Monday, September 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Aerospace in a research note on Thursday, October 15th. Royal Bank Of Canada set a $376.00 price objective on shares of GE Aerospace in a report on Friday, October 23rd. HC Wainwright set a $375.00 price objective on shares of GE Aerospace in a report on Wednesday, October 21st. Finally, Vertical Research reissued a “buy” rating and set a $400.00 price objective on shares of GE Aerospace in a research report on Tuesday, October 20th. Sixteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $373.45.

GE Aerospace Stock Performance

The company has a debt-to-equity ratio of 0.96, a current ratio of 0.98 and a quick ratio of 0.68. The company’s fifty day simple moving average is $314.60 and its two-hundred day simple moving average is $323.43. The stock has a market cap of $353.69 billion, a price-to-earnings ratio of 39.48, a P/E/G ratio of 2.28 and a beta of 1.43.

GE Aerospace (NYSE:GE) last released its quarterly earnings data on Tuesday, October 20th. The company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.24. The firm had revenue of $13.29 billion for the quarter, compared to analyst estimates of $12.88 billion. GE Aerospace had a net margin of 17.31% and a return on equity of 44.43%. The business’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same period last year, the firm earned $1.66 earnings per share. On average, analysts forecast that GE Aerospace will post 8.16 earnings per share for the current year.

GE Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Monday, October 5th were given a $0.47 dividend. The ex-dividend date of this dividend was Monday, October 5th. This represents a $1.88 annualized dividend and a yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is presently 21.68%.

Insiders Place Their Bets

In other GE Aerospace news, VP Robert Giglietti sold 14,796 shares of GE Aerospace stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $332.54, for a total transaction of $4,920,261.84. Following the completion of the transaction, the vice president owned 20,201 shares in the company, valued at approximately $6,717,640.54. The trade was a 42.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Institutional Trading of GE Aerospace

Several institutional investors and hedge funds have recently made changes to their positions in GE. State Street Corp increased its stake in GE Aerospace by 2.6% in the 2nd quarter. State Street Corp now owns 46,497,628 shares of the company’s stock valued at $17,377,559,000 after buying an additional 1,160,584 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of GE Aerospace by 4.9% in the 3rd quarter. Fisher Asset Management LLC now owns 12,156,680 shares of the company’s stock worth $3,796,410,000 after buying an additional 568,633 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of GE Aerospace by 37.7% in the 1st quarter. Jennison Associates LLC now owns 11,026,006 shares of the company’s stock worth $3,128,850,000 after buying an additional 3,017,937 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of GE Aerospace by 10.0% in the first quarter. Bank of America Corp DE now owns 7,664,679 shares of the company’s stock valued at $2,175,006,000 after acquiring an additional 695,731 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of GE Aerospace by 6.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,251,603 shares of the company’s stock valued at $2,710,142,000 after acquiring an additional 427,820 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Company Profile

GE Aerospace (NYSE: GE) designs, manufactures and services engines and related systems for commercial and military aircraft. Its offerings include aircraft engines, components, avionics and other integrated systems, along with maintenance, repair and overhaul services and digital solutions that support aircraft operations. The company serves airlines, aircraft manufacturers, governments and defense organizations around the world. Its business combines original equipment production with long-term aftermarket support, including parts and technical services for engines already in operation.