GE Aerospace (NYSE:GE - Get Free Report) shares fell 1.4% during mid-day trading on Friday . The company traded as low as $261.71 and last traded at $267.39. 1,454,282 shares changed hands during trading, a decline of 76% from the average session volume of 6,178,629 shares. The stock had previously closed at $271.08.
Analyst Ratings Changes
A number of equities research analysts have weighed in on GE shares. Barclays lifted their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Royal Bank Of Canada raised their price objective on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Wells Fargo & Company raised their price objective on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Finally, Citigroup reissued a "buy" rating and issued a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $232.92.
Check Out Our Latest Report on GE Aerospace
GE Aerospace Stock Down 0.9%
The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The company has a 50-day moving average of $251.39 and a two-hundred day moving average of $217.73. The company has a market capitalization of $284.81 billion, a PE ratio of 37.45, a P/E/G ratio of 2.94 and a beta of 1.37.
GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. The company had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The firm's revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the business posted $1.20 earnings per share. Sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.
GE Aerospace Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's payout ratio is 20.08%.
Hedge Funds Weigh In On GE Aerospace
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of GE Aerospace by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company's stock valued at $18,115,065,000 after acquiring an additional 692,124 shares during the period. FMR LLC grew its position in GE Aerospace by 1.5% during the 4th quarter. FMR LLC now owns 66,823,968 shares of the company's stock worth $11,145,570,000 after purchasing an additional 965,012 shares during the period. Price T Rowe Associates Inc. MD grew its position in GE Aerospace by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company's stock worth $5,030,028,000 after purchasing an additional 1,492,486 shares during the period. Northern Trust Corp grew its position in GE Aerospace by 5.8% during the 4th quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock worth $1,675,717,000 after purchasing an additional 553,104 shares during the period. Finally, Invesco Ltd. grew its position in GE Aerospace by 0.6% during the 1st quarter. Invesco Ltd. now owns 9,599,522 shares of the company's stock worth $1,921,344,000 after purchasing an additional 54,765 shares during the period. Institutional investors own 74.77% of the company's stock.
About GE Aerospace
(
Get Free Report)
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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