GE Aerospace (NYSE:GE) Shares Down 4% - Here's Why

Key Points

• GE Aerospace's stock price fell 4% to $268.33 amid low trading volume, down by 67% from its average session volume.
• Analysts provided mixed ratings, with Wells Fargo increasing its price target from $34.00 to $38.00, while Barclays boosted their target from $230.00 to $295.00, recognizing a shift in investor sentiment.
• In the latest earnings report, GE Aerospace posted an earnings per share of $1.66, surpassing estimates and showing a 21.2% year-over-year revenue growth.

GE Aerospace (NYSE:GE - Get Free Report)'s stock price traded down 4% on Wednesday . The company traded as low as $269.10 and last traded at $268.33. 1,986,894 shares were traded during trading, a decline of 67% from the average session volume of 6,052,423 shares. The stock had previously closed at $279.63.

Analyst Ratings Changes

A number of equities analysts have recently commented on GE shares. Wells Fargo & Company raised their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Royal Bank Of Canada raised their price objective on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Finally, Barclays increased their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Price Performance

The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The firm has a fifty day moving average of $256.48 and a two-hundred day moving average of $222.83. The stock has a market capitalization of $285.35 billion, a P/E ratio of 37.53, a P/E/G ratio of 2.96 and a beta of 1.44.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The company had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the previous year, the firm earned $1.20 earnings per share. The firm's quarterly revenue was up 21.2% compared to the same quarter last year. On average, analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's payout ratio is 20.08%.

Institutional Investors Weigh In On GE Aerospace

A number of large investors have recently modified their holdings of GE. Brighton Jones LLC grew its stake in shares of GE Aerospace by 25.3% during the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock worth $2,003,000 after acquiring an additional 2,421 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in GE Aerospace by 7.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock valued at $375,000 after buying an additional 150 shares during the last quarter. CreativeOne Wealth LLC boosted its position in GE Aerospace by 16.3% in the fourth quarter. CreativeOne Wealth LLC now owns 26,734 shares of the company's stock valued at $4,459,000 after buying an additional 3,740 shares during the last quarter. Hanlon Investment Management Inc. boosted its position in GE Aerospace by 15.5% in the fourth quarter. Hanlon Investment Management Inc. now owns 1,736 shares of the company's stock valued at $290,000 after buying an additional 233 shares during the last quarter. Finally, XTX Topco Ltd boosted its position in GE Aerospace by 163.8% in the fourth quarter. XTX Topco Ltd now owns 3,355 shares of the company's stock valued at $560,000 after buying an additional 2,083 shares during the last quarter. Hedge funds and other institutional investors 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.

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