GE Aerospace (NYSE:GE) Stock Price Down 1% - Here's What Happened

GE Aerospace (NYSE:GE - Get Free Report) traded down 1% on Tuesday . The company traded as low as $244.77 and last traded at $244.96. 1,663,482 shares traded hands during trading, a decline of 69% from the average session volume of 5,342,654 shares. The stock had previously closed at $247.48.

Analysts Set New Price Targets

GE has been the topic of a number of research reports. UBS Group raised their price objective on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. 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 on the stock. Citigroup lowered their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Royal Bank of Canada upped their price objective on shares of GE Aerospace from $220.00 to $275.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, Wells Fargo & Company lifted 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $221.15.

GE Aerospace Price Performance

The company has a market cap of $267.63 billion, a PE ratio of 41.90, a PEG ratio of 2.59 and a beta of 1.38. The firm's 50-day moving average is $207.88 and its 200-day moving average is $195.04. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

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

Insider Activity at GE Aerospace

In other news, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the transaction, the vice president now owns 11,540 shares of the company's stock, valued at $2,270,264.20. The trade was a 26.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $321,473.34. Following the completion of the transaction, the senior vice president now directly owns 8,805 shares of the company's stock, valued at $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Institutional Trading of GE Aerospace

Several institutional investors have recently added to or reduced their stakes in GE. CBIZ Investment Advisory Services LLC lifted its holdings in shares of GE Aerospace by 76.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 305 shares of the company's stock valued at $61,000 after purchasing an additional 132 shares in the last quarter. Modern Wealth Management LLC increased its holdings in GE Aerospace by 29.7% in the 1st quarter. Modern Wealth Management LLC now owns 9,535 shares of the company's stock worth $1,908,000 after buying an additional 2,184 shares in the last quarter. Nova Wealth Management Inc. purchased a new position in GE Aerospace in the 1st quarter worth about $29,000. Strs Ohio bought a new position in GE Aerospace during the 1st quarter valued at about $70,018,000. Finally, Wealth Management Associates Inc. lifted its stake in GE Aerospace by 2.3% during the 1st quarter. Wealth Management Associates Inc. now owns 4,857 shares of the company's stock valued at $972,000 after acquiring an additional 110 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

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.