GE Aerospace (NYSE:GE) Trading Down 1% - What's Next?

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

Wall Street Analyst Weigh In

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

GE Aerospace Trading Up 1.5%

The company has a market cap of $272.69 billion, a PE ratio of 42.69, a PEG ratio of 2.59 and a beta of 1.38. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The company has a 50 day simple moving average of $208.91 and a two-hundred day simple moving average of $195.55.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating 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 firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. Sell-side analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

Insiders Place Their Bets

In related news, VP Robert M. Giglietti sold 4,104 shares of the company'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 completion of the sale, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Mohamed Ali sold 1,602 shares of the company's 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 sale, the senior vice president now owns 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their position. 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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IMA Advisory Services Inc. acquired a new position in GE Aerospace during the 1st quarter worth $28,000. Copia Wealth Management lifted its position 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 last quarter. New Age Alpha Advisors LLC boosted its stake in GE Aerospace by 133.3% during 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 during the period. Nova Wealth Management Inc. acquired a new stake in GE Aerospace in the 1st quarter valued at approximately $29,000. Finally, Wealth Preservation Advisors LLC bought a new position in GE Aerospace in the 1st quarter worth approximately $30,000. Institutional investors and hedge funds 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.