GE Aerospace (NYSE:GE) Sets New 52-Week High After Dividend Announcement

GE Aerospace (NYSE:GE - Get Free Report) reached a new 52-week high during trading on Saturday after the company announced a dividend. The company traded as high as $260.55 and last traded at $254.50, with a volume of 26986431 shares trading hands. The stock had previously closed at $251.00.The newly announced dividend which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.57%. GE Aerospace's dividend payout ratio is 22.40%.

Analyst Upgrades and Downgrades

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

GE Aerospace Stock Performance

The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. The firm's 50 day moving average is $228.63 and its 200-day moving average is $202.77. The firm has a market cap of $271.39 billion, a price-to-earnings ratio of 39.58, a price-to-earnings-growth ratio of 3.03 and a beta of 1.38.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating 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 business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. Sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Insider Transactions at GE Aerospace

In other news, SVP Mohamed Ali sold 1,602 shares of the business's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the transaction, the senior vice president now owns 8,805 shares in the company, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the business's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following the transaction, the vice president now 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 corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. AG2R LA Mondiale Gestion D Actifs bought a new position in shares of GE Aerospace during the 1st quarter worth about $8,005,000. Nicholas Hoffman & Company LLC. increased its holdings in shares of GE Aerospace by 1.1% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 4,046 shares of the company's stock worth $810,000 after purchasing an additional 43 shares during the period. Howe & Rusling Inc. increased its holdings in shares of GE Aerospace by 5.7% during the 1st quarter. Howe & Rusling Inc. now owns 4,021 shares of the company's stock worth $805,000 after purchasing an additional 218 shares during the period. Maple Capital Management Inc. increased its holdings in shares of GE Aerospace by 28.5% during the 1st quarter. Maple Capital Management Inc. now owns 65,156 shares of the company's stock worth $13,041,000 after purchasing an additional 14,451 shares during the period. Finally, Sheets Smith Investment Management bought a new position in shares of GE Aerospace during the 1st quarter worth about $958,000. Institutional investors own 74.77% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.