GE Aerospace (NYSE:GE) Stock Price Up 1.3% - What's Next?

Shares of GE Aerospace (NYSE:GE - Get Free Report) were up 1.3% during trading on Thursday . The stock traded as high as $213.88 and last traded at $212.72. Approximately 1,019,157 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 5,343,181 shares. The stock had previously closed at $209.92.

Analyst Ratings Changes

Several equities analysts recently commented on GE shares. Wells Fargo & Company raised their target price on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Royal Bank of Canada reiterated an "outperform" rating and issued a $220.00 price objective on shares of GE Aerospace in a report on Wednesday, April 23rd. Bank of America upped their price target on shares of GE Aerospace from $200.00 to $225.00 and gave the company a "buy" rating in a report on Monday, January 27th. JPMorgan Chase & Co. upped their price target on shares of GE Aerospace from $190.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Finally, UBS Group upped their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $216.92.

GE Aerospace Stock Performance

The company has a fifty day moving average of $194.66 and a two-hundred day moving average of $187.47. 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 company has a market cap of $228.89 billion, a price-to-earnings ratio of 35.83, a P/E/G ratio of 2.59 and a beta of 1.31.

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

GE Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, March 10th were given a dividend of $0.36 per share. The ex-dividend date was Monday, March 10th. This represents a $1.44 annualized dividend and a yield of 0.67%. This is a positive change from GE Aerospace's previous quarterly dividend of $0.28. GE Aerospace's dividend payout ratio is presently 22.40%.

Insiders Place Their Bets

In related news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the sale, the senior vice president now owns 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This trade represents a 15.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following the transaction, the vice president now owns 11,540 shares of the company's stock, valued at $2,270,264.20. This represents a 26.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

Hedge Funds Weigh In On GE Aerospace

A number of large investors have recently made changes to their positions in the stock. New Age Alpha Advisors LLC increased its holdings in GE Aerospace by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after acquiring an additional 84 shares during the period. Hager Investment Management Services LLC purchased a new stake in GE Aerospace in the 4th quarter worth approximately $27,000. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of GE Aerospace in the 4th quarter worth approximately $28,000. Putney Financial Group LLC bought a new position in shares of GE Aerospace during the fourth quarter valued at approximately $28,000. Finally, IMA Advisory Services Inc. bought a new stake in GE Aerospace in the first quarter valued at $28,000. 74.77% of the stock is owned by institutional investors.

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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