GE Aerospace (NYSE:GE) Trading Down 1.3% - Here's Why

GE Aerospace (NYSE:GE - Get Free Report)'s stock price fell 1.3% on Thursday . The company traded as low as $230.50 and last traded at $230.41. 1,374,189 shares traded hands during trading, a decline of 76% from the average session volume of 5,718,557 shares. The stock had previously closed at $233.54.

Analyst Ratings Changes

A number of brokerages have weighed in on GE. Royal Bank of Canada reiterated an "outperform" rating and set a $220.00 target price on shares of GE Aerospace in a research report on Wednesday, April 23rd. Redburn Atlantic began coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price for the company. JPMorgan Chase & Co. increased their target price 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. Citigroup cut their target price on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, Bank of America increased their target price on shares of GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, GE Aerospace has an average rating of "Moderate Buy" and an average price target of $216.92.

GE Aerospace Price Performance

The business's 50 day moving average is $201.76 and its two-hundred day moving average is $191.63. The firm has a market capitalization of $248.32 billion, a PE ratio of 38.87, a P/E/G ratio of 2.59 and a beta of 1.31. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

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, beating analysts' consensus estimates of $1.29 by $0.20. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. As a group, research analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

Insiders Place Their Bets

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace 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 transaction, the senior vice president now directly 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 ownership of the stock. The transaction 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 firm's 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 owns 11,540 shares in the company, 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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GE. Dakota Wealth Management grew its holdings in shares of GE Aerospace by 10.4% in the fourth quarter. Dakota Wealth Management now owns 8,924 shares of the company's stock worth $1,489,000 after purchasing an additional 838 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of GE Aerospace by 6.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 159,491 shares of the company's stock worth $26,602,000 after purchasing an additional 9,215 shares during the last quarter. Avior Wealth Management LLC grew its holdings in shares of GE Aerospace by 3.1% in the fourth quarter. Avior Wealth Management LLC now owns 10,671 shares of the company's stock worth $1,780,000 after purchasing an additional 318 shares during the last quarter. Red Door Wealth Management LLC boosted its holdings in GE Aerospace by 4.0% in the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the company's stock valued at $241,000 after acquiring an additional 56 shares in the last quarter. Finally, Secure Asset Management LLC boosted its holdings in GE Aerospace by 28.1% in the fourth quarter. Secure Asset Management LLC now owns 6,402 shares of the company's stock valued at $1,068,000 after acquiring an additional 1,406 shares in the last quarter. Institutional investors 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.