GE Aerospace (NYSE:GE) Stock Price Down 4% - Here's What Happened

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.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on GE. Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. UBS Group upped their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Sanford C. Bernstein reissued an "outperform" rating on shares of GE Aerospace in a research note on Friday. Royal Bank Of Canada lifted their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Finally, Wells Fargo & Company lifted their target price on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Stock Performance

The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The company has a market capitalization of $283.79 billion, a P/E ratio of 37.32, a P/E/G ratio of 2.88 and a beta of 1.44. The business's fifty day simple moving average is $257.44 and its 200-day simple moving average is $224.35.

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

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were issued a $0.36 dividend. 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 presently 20.08%.

Institutional Trading of GE Aerospace

A number of large investors have recently made changes to their positions in GE. Bare Financial Services Inc increased its holdings in shares of GE Aerospace by 81.1% in the 2nd quarter. Bare Financial Services Inc now owns 96 shares of the company's stock worth $25,000 after buying an additional 43 shares during the last quarter. Lavaca Capital LLC increased its holdings in shares of GE Aerospace by 1,666.7% in the 2nd quarter. Lavaca Capital LLC now owns 106 shares of the company's stock worth $27,000 after buying an additional 100 shares during the last quarter. Putney Financial Group LLC bought a new stake in shares of GE Aerospace in the 4th quarter worth about $28,000. IMA Advisory Services Inc. bought a new position in GE Aerospace during the 1st quarter valued at about $28,000. Finally, Copia Wealth Management grew its holdings in GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after purchasing an additional 142 shares during the last quarter. 74.77% of the stock is currently owned by 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.