GE Aerospace (NYSE:GE) Stock Price Up 0.7% - Here's Why

Shares of GE Aerospace (NYSE:GE - Get Free Report) shot up 0.7% during mid-day trading on Monday . The company traded as high as $209.20 and last traded at $209.14. 662,016 shares were traded during trading, a decline of 88% from the average session volume of 5,355,078 shares. The stock had previously closed at $207.70.

Analysts Set New Price Targets

GE has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on GE Aerospace from $190.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Redburn Atlantic started coverage on GE Aerospace in a research note on Tuesday, February 18th. They set a "buy" rating and a $250.00 price target on the stock. Northcoast Research raised shares of GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 price objective for the company in a research report on Wednesday, April 9th. Citigroup dropped their target price on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, Wells Fargo & Company raised their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, GE Aerospace has a consensus rating of "Moderate Buy" and an average target price of $216.92.

GE Aerospace Stock Up 0.2 %

The stock has a market cap of $229.09 billion, a PE ratio of 35.86, a P/E/G ratio of 2.59 and a beta of 1.31. The business has a 50 day moving average price of $195.24 and a 200 day moving average price of $187.87. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.20. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The business had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.06 billion. Equities research analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, March 10th were paid a dividend of $0.36 per share. This is a positive change from GE Aerospace's previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Monday, March 10th. GE Aerospace's dividend payout ratio is presently 22.40%.

Insider Activity at GE Aerospace

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the company's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the completion of the transaction, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the sale, the senior vice president now owns 8,805 shares in the company, valued at approximately $1,766,899.35. This trade represents a 15.39 % decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On GE Aerospace

Several hedge funds and other institutional investors have recently made changes to their positions in GE. New Age Alpha Advisors LLC boosted its stake 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 purchasing an additional 84 shares during the last quarter. Hager Investment Management Services LLC purchased a new position in shares of GE Aerospace in the fourth quarter worth about $27,000. Sumitomo Mitsui Financial Group Inc. acquired a new position in GE Aerospace during the fourth quarter worth about $28,000. Putney Financial Group LLC purchased a new stake in GE Aerospace during the 4th quarter valued at about $28,000. Finally, IMA Advisory Services Inc. acquired a new stake in GE Aerospace in the 1st quarter valued at about $28,000. 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.