GE Aerospace (NYSE:GE) Shares Down 1.2% - Here's What Happened

GE Aerospace (NYSE:GE - Get Free Report)'s stock price fell 1.2% during trading on Friday . The stock traded as low as $233.70 and last traded at $237.12. 2,294,143 shares were traded during mid-day trading, a decline of 58% from the average session volume of 5,419,012 shares. The stock had previously closed at $239.99.

Wall Street Analyst Weigh In

A number of research firms have commented on GE. UBS Group raised their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Redburn Atlantic began coverage on shares of GE Aerospace in a research note on Tuesday, February 18th. They set a "buy" rating and a $250.00 price target on the stock. Royal Bank of Canada set a $275.00 price objective on GE Aerospace and gave the company an "outperform" rating in a research note on Tuesday, June 3rd. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Finally, Citigroup reduced their target price on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $221.15.

GE Aerospace Stock Down 1.6%

The business's fifty day moving average price is $216.42 and its two-hundred day moving average price is $198.36. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The firm has a market capitalization of $251.74 billion, a P/E ratio of 39.41, a PEG ratio of 2.59 and a beta of 1.38.

GE Aerospace (NYSE:GE - Get Free Report) last released its earnings results 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 company had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.06 billion. Equities analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Insider Activity at GE Aerospace

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction 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 transaction, the vice president now owns 11,540 shares of the company's stock, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction that occurred 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 approximately $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IMA Advisory Services Inc. acquired a new position in GE Aerospace during the first quarter worth $28,000. Copia Wealth Management grew its holdings in shares of GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after purchasing an additional 142 shares in the last quarter. New Age Alpha Advisors LLC grew its stake in shares of GE Aerospace by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after acquiring an additional 84 shares in the last quarter. Nova Wealth Management Inc. purchased a new stake in GE Aerospace during the 1st quarter worth about $29,000. Finally, Wealth Preservation Advisors LLC acquired a new stake in GE Aerospace in the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

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.