GE Aerospace (NYSE:GE) Shares Up 0.2% - Here's Why

Shares of GE Aerospace (NYSE:GE - Get Free Report) rose 0.2% on Tuesday . The company traded as high as $209.62 and last traded at $209.41. Approximately 644,167 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 5,351,279 shares. The stock had previously closed at $208.94.

Analyst Upgrades and Downgrades

GE has been the topic of several analyst reports. UBS Group increased their price target on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Redburn Atlantic started coverage on shares of GE Aerospace in a research note on Tuesday, February 18th. They issued a "buy" rating and a $250.00 target price on the stock. Citigroup cut their target price on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Bank of America upped their price target on shares of GE Aerospace from $200.00 to $225.00 and gave the company a "buy" rating in a report on Monday, January 27th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $220.00 price objective on shares of GE Aerospace in a research report on Wednesday, April 23rd. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $216.92.

GE Aerospace Trading Down 0.8 %

The business has a 50-day moving average price of $194.92 and a 200-day moving average price of $187.61. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $226.98 billion, a P/E ratio of 35.53, a PEG ratio of 2.59 and a beta of 1.31.

GE Aerospace (NYSE:GE - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.29 by $0.20. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. Analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, March 10th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from GE Aerospace's previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a yield of 0.68%. GE Aerospace's dividend payout ratio is 22.40%.

Insider Buying and Selling at GE Aerospace

In related news, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction that occurred 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 owns 11,540 shares of the company's stock, valued at $2,270,264.20. This trade represents a 26.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the transaction, the senior vice president now directly owns 8,805 shares in the company, valued at approximately $1,766,899.35. This represents a 15.39 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

Hedge Funds Weigh In On GE Aerospace

Large investors have recently made changes to their positions in the company. New Age Alpha Advisors LLC grew its holdings in 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 acquiring an additional 84 shares during the period. Hager Investment Management Services LLC acquired a new stake in shares of GE Aerospace during the fourth quarter worth $27,000. Sumitomo Mitsui Financial Group Inc. bought a new position in GE Aerospace during the fourth quarter worth about $28,000. Putney Financial Group LLC acquired a new position in shares of GE Aerospace during the 4th quarter worth about $28,000. Finally, IMA Advisory Services Inc. acquired a new stake in shares of GE Aerospace in the 1st quarter valued at approximately $28,000. Institutional investors and hedge funds 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.