GE Aerospace (NYSE:GE) Shares Up 1.9% - Here's Why

GE Aerospace (NYSE:GE - Get Free Report)'s share price traded up 1.9% on Thursday . The stock traded as high as $254.88 and last traded at $254.77. 1,168,149 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 5,373,318 shares. The stock had previously closed at $249.90.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. UBS Group raised their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Wells Fargo & Company raised their price target on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Citigroup cut their price objective on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Finally, Royal Bank Of Canada set a $275.00 target price on shares of GE Aerospace and gave the stock an "outperform" rating in a research note on Tuesday, June 3rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $221.15.

GE Aerospace Stock Up 1.4%

The company has a debt-to-equity ratio of 0.90, a current ratio of 1.08 and a quick ratio of 0.77. The business has a fifty day simple moving average of $227.18 and a 200 day simple moving average of $202.19. The firm has a market cap of $271.39 billion, a price-to-earnings ratio of 39.58, a PEG ratio of 3.01 and a beta of 1.38.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.20. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. As a group, equities analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.57%. GE Aerospace's payout ratio is 22.40%.

Insider Transactions at GE Aerospace

In related news, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following the completion of the transaction, the vice president now directly owns 11,540 shares in the company, valued at $2,270,264.20. The trade was a 26.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the business's stock in a transaction that occurred on 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 now directly owns 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This represents a 15.39% 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 institutional investors have recently added to or reduced their stakes in GE. 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 purchasing an additional 84 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of GE Aerospace in the fourth quarter worth $28,000. Putney Financial Group LLC bought a new position in GE Aerospace during the 4th quarter valued at $28,000. IMA Advisory Services Inc. acquired a new stake in shares of GE Aerospace in the 1st quarter valued at about $28,000. Finally, CBIZ Investment Advisory Services LLC acquired a new position in GE Aerospace in the fourth quarter worth about $29,000. Institutional investors and hedge funds own 74.77% of the company's stock.

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.