GE Aerospace (NYSE:GE) Announces $0.36 Quarterly Dividend

GE Aerospace (NYSE:GE - Get Free Report) announced a quarterly dividend on Friday, June 27th, RTT News reports. Investors of record on Monday, July 7th will be paid a dividend of 0.36 per share on Friday, July 25th. This represents a $1.44 annualized dividend and a dividend yield of 0.56%.

GE Aerospace has a dividend payout ratio of 22.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect GE Aerospace to earn $6.46 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 22.3%.

GE Aerospace Price Performance

GE Aerospace stock traded up $7.59 during trading hours on Friday, hitting $258.59. 4,762,836 shares of the company traded hands, compared to its average volume of 5,398,619. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $260.45. The firm has a market cap of $275.76 billion, a P/E ratio of 40.20, a P/E/G ratio of 3.01 and a beta of 1.38. The firm's 50-day simple moving average is $227.18 and its two-hundred day simple moving average is $202.19. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.20. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The firm had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.06 billion. As a group, analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace 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 in the company, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the sale, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GE Aerospace

An institutional investor recently raised its position in GE Aerospace stock. Revolve Wealth Partners LLC increased its position in GE Aerospace (NYSE:GE - Free Report) by 7.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,251 shares of the company's stock after acquiring an additional 150 shares during the period. Revolve Wealth Partners LLC's holdings in GE Aerospace were worth $375,000 at the end of the most recent reporting period. 74.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on GE shares. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Citigroup lowered their price objective on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. UBS Group upped their price target on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada set a $275.00 price objective on GE Aerospace and gave the stock an "outperform" rating in a research note on Tuesday, June 3rd. Finally, Wells Fargo & Company increased their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $221.15.

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.

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