GE Aerospace (NYSE:GE) Shares Down 1.7% - Here's What Happened

GE Aerospace (NYSE:GE - Get Free Report)'s share price traded down 1.7% during trading on Tuesday . The company traded as low as $244.01 and last traded at $244.32. 1,248,783 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 5,496,763 shares. The stock had previously closed at $248.65.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wells Fargo & Company lifted their target price on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Royal Bank Of Canada set a $275.00 price objective on shares of GE Aerospace and gave the stock an "outperform" rating in a research note on Tuesday, June 3rd. UBS Group increased their target price on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Finally, Citigroup cut their price objective on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $223.75.

GE Aerospace Stock Down 0.6%

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 company has a fifty day simple moving average of $236.28 and a two-hundred day simple moving average of $207.07. The firm has a market capitalization of $263.52 billion, a PE ratio of 38.43, a PEG ratio of 3.00 and a beta of 1.37.

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

GE Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.58%. GE Aerospace's dividend payout ratio is presently 22.40%.

Insider Activity

In related news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the transaction, the senior vice president owned 8,805 shares in the company, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction on 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 directly owned 11,540 shares of the company's stock, valued at approximately $2,270,264.20. This trade represents 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 company insiders.

Institutional Trading of GE Aerospace

A number of hedge funds have recently modified their holdings of the stock. New Age Alpha Advisors LLC raised its position in shares of GE Aerospace by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after purchasing an additional 84 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of GE Aerospace in the 4th quarter valued at $28,000. Putney Financial Group LLC purchased a new position in GE Aerospace during the fourth quarter worth about $28,000. IMA Advisory Services Inc. acquired a new position in shares of GE Aerospace in the 1st quarter worth approximately $28,000. Finally, CBIZ Investment Advisory Services LLC acquired a new position in GE Aerospace during the fourth quarter worth $29,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

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.