GE Aerospace (NYSE:GE) Stock Price Up 1.5% Following Dividend Announcement

Key Points

• GE Aerospace's stock price increased by 1.5% after the company announced a dividend of $0.36 per share, with the ex-dividend date set for September 29th.
• Wall Street analysts have shown optimism, with the stock receiving multiple upgrades and 10 buy ratings against only one hold rating, raising price targets significantly.
• In its last quarterly earnings report, GE Aerospace reported earnings of $1.66 per share, exceeding estimates and reflecting a 21.2% increase in revenue year-over-year.

GE Aerospace (NYSE:GE - Get Free Report)'s share price rose 1.5% during mid-day trading on Friday following a dividend announcement from the company. The stock traded as high as $303.03 and last traded at $301.62. Approximately 9,588,597 shares traded hands during mid-day trading, an increase of 65% from the average daily volume of 5,826,603 shares. The stock had previously closed at $297.09.The newly announced dividend which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace's payout ratio is currently 20.08%.

Wall Street Analysts Forecast Growth

GE has been the subject of several research reports. Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. 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. Citigroup reissued a "buy" rating and issued a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Barclays raised their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, UBS Group raised their price objective on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Trading Up 1.5%

The firm has a market capitalization of $319.85 billion, a P/E ratio of 42.07, a PEG ratio of 3.11 and a beta of 1.48. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The business has a 50-day moving average price of $272.70 and a 200-day moving average price of $236.15.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The business had revenue of $10.15 billion for the quarter, compared to analysts' expectations of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.GE Aerospace's quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

Institutional Trading of GE Aerospace

Institutional investors have recently bought and sold shares of the stock. Bare Financial Services Inc boosted its stake in GE Aerospace by 81.1% in the second quarter. Bare Financial Services Inc now owns 96 shares of the company's stock worth $25,000 after purchasing an additional 43 shares in the last quarter. Lavaca Capital LLC boosted its stake in GE Aerospace by 1,666.7% in the second quarter. Lavaca Capital LLC now owns 106 shares of the company's stock worth $27,000 after purchasing an additional 100 shares in the last quarter. Putney Financial Group LLC acquired a new position in GE Aerospace in the fourth quarter worth $28,000. IMA Advisory Services Inc. acquired a new position in GE Aerospace in the first quarter worth $28,000. Finally, Copia Wealth Management boosted its stake in GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after purchasing an additional 142 shares in the last quarter. Institutional investors and hedge funds 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.

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