GE Aerospace (NYSE:GE) Trading Down 1.5% - Time to Sell?

GE Aerospace (NYSE:GE - Get Free Report)'s share price dropped 1.5% during mid-day trading on Thursday . The stock traded as low as $260.01 and last traded at $262.15. Approximately 7,292,000 shares were traded during mid-day trading, an increase of 30% from the average daily volume of 5,603,559 shares. The stock had previously closed at $266.18.

Wall Street Analyst Weigh In

GE has been the subject of several recent research reports. UBS Group boosted their price target on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Wells Fargo & Company lifted their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. 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 report on Tuesday, June 3rd. Citigroup reiterated a "buy" rating and set a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research note on Monday. Finally, Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $229.50.

GE Aerospace Trading Down 2.2%

The company's fifty day simple moving average is $242.49 and its two-hundred day simple moving average is $210.45. The company has a market capitalization of $277.50 billion, a price-to-earnings ratio of 40.47, a price-to-earnings-growth ratio of 3.17 and a beta of 1.37. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.43 by $0.23. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The business had revenue of $10.15 billion for the quarter, compared to analysts' expectations of $9.49 billion. During the same period in the previous year, the firm posted $1.20 EPS. The firm's revenue was up 21.2% compared to the same quarter last year. Research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.55%. GE Aerospace's dividend payout ratio is presently 22.40%.

Insider Transactions at GE Aerospace

In other news, SVP Mohamed Ali sold 1,602 shares of the company'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 transaction, the senior vice president owned 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the 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 transaction, the vice president owned 11,540 shares in the company, valued at $2,270,264.20. The trade was a 26.23% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

Hedge Funds Weigh In On GE Aerospace

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of GE Aerospace in the 4th quarter valued at $2,375,439,000. GQG Partners LLC bought a new stake in GE Aerospace during the first quarter valued at $1,606,840,000. GAMMA Investing LLC grew its holdings in GE Aerospace by 23,611.7% during the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock worth $1,013,959,000 after acquiring an additional 5,044,632 shares during the period. Nuveen LLC acquired a new position in shares of GE Aerospace in the 1st quarter valued at about $777,075,000. Finally, Amundi boosted its position in shares of GE Aerospace by 124.0% during the 1st quarter. Amundi now owns 3,200,479 shares of the company's stock valued at $600,506,000 after purchasing an additional 1,771,944 shares in the last quarter. 74.77% of the stock is currently 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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