GE Aerospace (NYSE:GE) Shares Up 2.6% After Dividend Announcement

GE Aerospace (NYSE:GE - Get Free Report) shares shot up 2.6% during trading on Friday following a dividend announcement from the company. The stock traded as high as $256.82 and last traded at $257.57. 1,909,780 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 5,388,460 shares. The stock had previously closed at $251.00.The newly announced dividend which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.56%. GE Aerospace's payout ratio is 22.40%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Citigroup dropped their target price on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. UBS Group upped their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Wells Fargo & Company lifted their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Finally, Royal Bank Of Canada set a $275.00 price target on shares of GE Aerospace and gave the stock an "outperform" rating in a research note on Tuesday, June 3rd. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, GE Aerospace has a consensus rating of "Moderate Buy" and an average price target of $221.15.

GE Aerospace Stock Up 3.0%

The company has a debt-to-equity ratio of 0.90, a current ratio of 1.08 and a quick ratio of 0.77. The company has a market capitalization of $275.76 billion, a price-to-earnings ratio of 40.20, a price-to-earnings-growth ratio of 3.01 and a beta of 1.38. The firm's 50-day simple moving average is $227.18 and its two-hundred day simple moving average is $202.19.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.20. The business had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.06 billion. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. Sell-side analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

Insider Buying and Selling at GE Aerospace

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following the sale, the vice president now owns 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mohamed Ali sold 1,602 shares of the firm'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 of the company's stock, valued at $1,766,899.35. The trade was a 15.39% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Institutional Trading of GE Aerospace

A number of large investors have recently made changes to their positions in GE. Brighton Jones LLC lifted its holdings in GE Aerospace by 25.3% in the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock valued at $2,003,000 after purchasing an additional 2,421 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of 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. Lake Street Advisors Group LLC lifted its stake in shares of GE Aerospace by 2.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 6,367 shares of the company's stock valued at $1,064,000 after buying an additional 168 shares during the period. Whipplewood Advisors LLC acquired a new stake in GE Aerospace during the fourth quarter worth approximately $352,000. Finally, NewEdge Wealth LLC grew its stake in GE Aerospace by 5.2% in the 4th quarter. NewEdge Wealth LLC now owns 9,962 shares of the company's stock worth $1,662,000 after acquiring an additional 488 shares during the period. 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.

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