GE Aerospace (NYSE:GE) Trading Down 0% - Here's Why

GE Aerospace (NYSE:GE - Get Free Report)'s stock price traded down 0% during mid-day trading on Friday . The stock traded as low as $227.59 and last traded at $229.33. 1,211,614 shares were traded during trading, a decline of 77% from the average session volume of 5,335,602 shares. The stock had previously closed at $229.38.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on GE shares. Wells Fargo & Company increased their price objective on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $220.00 target price on shares of GE Aerospace in a report on Wednesday, April 23rd. Northcoast Research raised GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 target price on the stock in a report on Wednesday, April 9th. UBS Group raised their target price on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Finally, Bank of America increased their price target on GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $216.92.

GE Aerospace Stock Performance

The firm has a 50 day simple moving average of $197.39 and a 200-day simple moving average of $189.08. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The company has a market cap of $247.54 billion, a price-to-earnings ratio of 38.72, a PEG ratio of 2.59 and a beta of 1.31.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.20. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. The business had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.06 billion. As a group, analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

Insider Activity at GE Aerospace

In other news, SVP Mohamed Ali sold 1,602 shares of the business's 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 directly owns 8,805 shares of the company's stock, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the business's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the sale, the vice president now directly owns 11,540 shares of the company's stock, 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

Several hedge funds and other institutional investors have recently bought and sold shares of GE. Truvestments Capital LLC lifted its stake in GE Aerospace by 19.5% in the 1st quarter. Truvestments Capital LLC now owns 282 shares of the company's stock valued at $56,000 after buying an additional 46 shares in the last quarter. Sfmg LLC lifted its stake in GE Aerospace by 2.4% in the 1st quarter. Sfmg LLC now owns 2,088 shares of the company's stock valued at $418,000 after buying an additional 48 shares in the last quarter. SGL Investment Advisors Inc. lifted its stake in GE Aerospace by 3.6% in the 1st quarter. SGL Investment Advisors Inc. now owns 1,413 shares of the company's stock valued at $303,000 after buying an additional 49 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its stake in GE Aerospace by 17.6% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company's stock valued at $56,000 after buying an additional 50 shares in the last quarter. Finally, Hudock Inc. lifted its stake in GE Aerospace by 1.8% in the 1st quarter. Hudock Inc. now owns 2,905 shares of the company's stock valued at $582,000 after buying an additional 50 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

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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