GE Aerospace (NYSE:GE) Stock Price Down 3.6% - Here's Why

GE Aerospace (NYSE:GE - Get Free Report) dropped 3.6% during mid-day trading on Tuesday . The stock traded as low as $248.43 and last traded at $248.07. Approximately 1,518,568 shares were traded during trading, a decline of 72% from the average daily volume of 5,478,357 shares. The stock had previously closed at $257.39.

Analysts Set New Price Targets

A number of research firms recently issued reports on GE. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. UBS Group raised their price target on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada set a $275.00 price objective on GE Aerospace and gave the stock an "outperform" rating in a research report on Tuesday, June 3rd. Citigroup decreased their target price on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Wells Fargo & Company lifted their price target on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $223.75.

GE Aerospace Stock Performance

The firm has a fifty day simple moving average of $231.41 and a 200 day simple moving average of $204.23. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90. The stock has a market cap of $265.87 billion, a price-to-earnings ratio of 38.77, a PEG ratio of 3.11 and a beta of 1.37.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.58%. GE Aerospace's dividend payout ratio is 22.40%.

Insider Transactions at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the firm's 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 transaction, the senior vice president owned 8,805 shares in the company, valued at $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction that occurred 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 sale, the vice president directly owned 11,540 shares in the company, valued at $2,270,264.20. The trade was a 26.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GE Aerospace

A number of hedge funds have recently modified their holdings of GE. IMA Advisory Services Inc. bought a new position in GE Aerospace during the 1st quarter valued at about $28,000. Copia Wealth Management increased its holdings in shares of GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after buying an additional 142 shares in the last quarter. New Age Alpha Advisors LLC raised 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 valued at $25,000 after acquiring an additional 84 shares during the last quarter. Nova Wealth Management Inc. acquired a new position in shares of GE Aerospace in the 1st quarter worth approximately $29,000. Finally, Wealth Preservation Advisors LLC acquired a new position in shares of GE Aerospace in the 1st quarter worth approximately $30,000. 74.77% of the stock is owned by institutional investors and hedge funds.

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.