GE Aerospace (NYSE:GE) Shares Down 2.9% - What's Next?

Key Points

• GE Aerospace's stock declined by 2.9% on Wednesday, closing at $297.64, down from a previous high of $306.63, with a trading volume drop of 10% compared to the average.
• Analysts have given mixed ratings on GE Aerospace, with Wolfe Research raising its price target to $330 and Zacks downgrading it to a "hold" rating, reflecting a range of outlooks among 15 analysts who rate the stock as a "Buy."
• The company recently announced quarterly earnings that exceeded expectations, showing a revenue increase of 26.4% year-over-year and a projected FY 2025 EPS guidance of 6.000-6.200.

GE Aerospace (NYSE:GE - Get Free Report) shares traded down 2.9% on Wednesday . The stock traded as low as $294.80 and last traded at $297.64. 5,029,074 shares changed hands during trading, a decline of 10% from the average session volume of 5,592,564 shares. The stock had previously closed at $306.63.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wolfe Research boosted their price objective on shares of GE Aerospace from $280.00 to $330.00 and gave the company an "outperform" rating in a report on Thursday, October 9th. Zacks Research cut GE Aerospace from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 26th. Citigroup reaffirmed a "buy" rating and set a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. TD Cowen upped their price objective on GE Aerospace from $300.00 to $330.00 and gave the stock a "buy" rating in a research note on Tuesday, October 7th. Finally, UBS Group set a $366.00 price objective on GE Aerospace and gave the stock a "buy" rating in a research note on Wednesday. Fifteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, GE Aerospace has an average rating of "Moderate Buy" and a consensus target price of $284.27.

GE Aerospace Price Performance

The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The stock has a 50 day simple moving average of $287.16 and a 200-day simple moving average of $252.55. The firm has a market cap of $315.63 billion, a PE ratio of 41.51, a price-to-earnings-growth ratio of 3.26 and a beta of 1.49.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.20. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business had revenue of $11.31 billion during the quarter, compared to analyst estimates of $10.29 billion. During the same period last year, the firm posted $1.15 EPS. The company's revenue was up 26.4% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Equities analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is 19.23%.

Hedge Funds Weigh In On GE Aerospace

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new position in GE Aerospace during the second quarter worth $3,408,828,000. GQG Partners LLC purchased a new position in shares of GE Aerospace during the first quarter valued at approximately $1,606,840,000. Nuveen LLC purchased a new position in GE Aerospace during the 1st quarter valued at $777,075,000. Amundi boosted its holdings in GE Aerospace by 124.0% during the 1st quarter. Amundi now owns 3,200,479 shares of the company's stock valued at $600,506,000 after acquiring an additional 1,771,944 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in GE Aerospace by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company's stock valued at $5,030,028,000 after acquiring an additional 1,492,486 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

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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