GE Aerospace (NYSE:GE) Stock Price Down 0.4% - Here's What Happened

GE Aerospace (NYSE:GE - Get Free Report)'s share price fell 0.4% during trading on Wednesday . The company traded as low as $196.86 and last traded at $199.62. 694,162 shares were traded during mid-day trading, a decline of 88% from the average session volume of 5,889,688 shares. The stock had previously closed at $200.50.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GE shares. Wells Fargo & Company increased their target price on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Royal Bank of Canada reissued an "outperform" rating and set a $220.00 target price on shares of GE Aerospace in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. lifted their price objective on GE Aerospace from $190.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Northcoast Research raised GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 target price for the company in a report on Wednesday, April 9th. Finally, Redburn Atlantic started coverage on GE Aerospace in a research note on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price target on the stock. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, GE Aerospace presently has an average rating of "Moderate Buy" and a consensus target price of $216.92.

GE Aerospace Price Performance

The stock has a market cap of $213.11 billion, a PE ratio of 33.36, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. The stock's fifty day moving average is $194.01 and its 200-day moving average is $186.82. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly 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. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. As a group, equities analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, March 10th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.72%. 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. GE Aerospace's dividend payout ratio (DPR) is 22.40%.

Insider Activity

In related news, VP Robert M. Giglietti sold 4,104 shares of the business's stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value 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. The trade was a 26.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.21% of the company's stock.

Hedge Funds Weigh In On GE Aerospace

Institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in GE Aerospace during the 4th quarter worth approximately $2,375,439,000. GAMMA Investing LLC raised its stake in shares of GE Aerospace by 23,611.7% in the first quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock valued at $1,013,959,000 after acquiring an additional 5,044,632 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in GE Aerospace by 87.7% in the fourth quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock valued at $597,412,000 after purchasing an additional 1,673,365 shares during the period. Invesco Ltd. grew its stake in GE Aerospace by 14.4% during the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after purchasing an additional 1,204,910 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in GE Aerospace during the 4th quarter worth about $194,208,000. 74.77% of the stock is owned by institutional investors and hedge funds.

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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