GE Aerospace (NYSE:GE) Stock Price Up 1.8% - Here's What Happened

GE Aerospace (NYSE:GE - Get Free Report) shares shot up 1.8% during mid-day trading on Thursday . The company traded as high as $227.45 and last traded at $227.22. 1,468,935 shares were traded during mid-day trading, a decline of 72% from the average session volume of 5,336,090 shares. The stock had previously closed at $223.24.

Analysts Set New Price Targets

GE has been the topic of a number of recent research reports. UBS Group raised their price objective on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Bank of America boosted their price objective on shares of GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Royal Bank of Canada reissued an "outperform" rating and issued a $220.00 price objective on shares of GE Aerospace in a research note on Wednesday, April 23rd. Citigroup lowered their target price on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, Northcoast Research raised GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 price target for the company in a report on Wednesday, April 9th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, GE Aerospace presently has a consensus rating of "Moderate Buy" and a consensus price target of $216.92.

GE Aerospace Stock Performance

The stock's 50-day moving average price is $196.64 and its 200-day moving average price is $188.71. 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 capitalization of $244.50 billion, a price-to-earnings ratio of 38.31, 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 (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.20. The firm had revenue of $9.94 billion during 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%. As a group, equities research analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, March 10th were paid a $0.36 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from GE Aerospace's previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a yield of 0.63%. GE Aerospace's dividend payout ratio (DPR) is presently 22.40%.

Insiders Place Their Bets

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the business'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 sale, the senior vice president now owns 8,805 shares in the company, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the sale, the vice president now directly 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. Corporate insiders own 0.21% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. New Age Alpha Advisors LLC lifted its position in shares of GE Aerospace by 133.3% during 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. Hager Investment Management Services LLC bought a new stake in GE Aerospace in the 4th quarter worth about $27,000. Sumitomo Mitsui Financial Group Inc. bought a new stake in GE Aerospace in the 4th quarter worth approximately $28,000. Putney Financial Group LLC bought a new stake in GE Aerospace during the fourth quarter valued at approximately $28,000. Finally, IMA Advisory Services Inc. bought a new position in shares of GE Aerospace during the 1st quarter valued at approximately $28,000. 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.

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