GE Aerospace (NYSE:GE) Shares Down 0% - Here's What Happened

Shares of GE Aerospace (NYSE:GE - Get Free Report) traded down 0% during trading on Wednesday . The company traded as low as $220.45 and last traded at $221.49. 736,652 shares traded hands during trading, a decline of 87% from the average session volume of 5,757,837 shares. The stock had previously closed at $221.58.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Citigroup reduced their target price on shares of 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 lifted their price target on shares of 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 reiterated an "outperform" rating and set a $220.00 price target on shares of GE Aerospace in a research report on Wednesday, April 23rd. Northcoast Research upgraded shares of GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 price target for the company in a research report on Wednesday, April 9th. Finally, Redburn Atlantic began coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price target for the company. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $216.92.

GE Aerospace Stock Up 0.2%

The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The stock has a market cap of $236.67 billion, a price-to-earnings ratio of 37.05, a PEG ratio of 2.59 and a beta of 1.31. The business's fifty day moving average is $196.07 and its two-hundred day moving average is $188.48.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.29 by $0.20. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. Equities analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, March 10th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from GE Aerospace's previous quarterly dividend of $0.28. GE Aerospace's payout ratio is currently 22.40%.

Insider Transactions at GE Aerospace

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the business's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the transaction, the vice president now directly owns 11,540 shares of the company's stock, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the transaction, the senior vice president now directly owns 8,805 shares in the company, valued at $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

Hedge Funds Weigh In On GE Aerospace

Institutional investors have recently bought and sold shares of the company. IMA Advisory Services Inc. acquired a new position in GE Aerospace in the 1st quarter valued at $28,000. Copia Wealth Management grew its stake in shares of GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after purchasing an additional 142 shares during the period. New Age Alpha Advisors LLC increased its holdings in shares of GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after purchasing an additional 84 shares in the last quarter. O Brien Wealth Partners LLC purchased a new position in shares of GE Aerospace in the 1st quarter valued at about $33,000. Finally, Hager Investment Management Services LLC purchased a new position in shares of GE Aerospace in the 4th quarter valued at about $27,000. 74.77% of the stock is owned by institutional investors and hedge funds.

About GE Aerospace

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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