GE Aerospace (NYSE:GE) Trading Down 2.4% - What's Next?

Key Points

• GE Aerospace's stock experienced a **2.4% drop** during trading, reaching a low of **$269.09** and a volume significantly below its average.
• Analyst ratings remain positive, with **eleven analysts** assigning a "buy" rating, resulting in an updated price target range between **$295.00** and **$321.00**.
• The company reported **$1.66 earnings per share**, surpassing expectations, and noted a **21.2% increase** in quarterly revenue compared to the previous year.

Shares of GE Aerospace (NYSE:GE - Get Free Report) fell 2.4% during trading on Tuesday . The stock traded as low as $269.09 and last traded at $269.71. 918,237 shares traded hands during trading, a decline of 85% from the average session volume of 6,144,922 shares. The stock had previously closed at $276.23.

Analyst Ratings Changes

A number of research firms have recently weighed in on GE. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. UBS Group upped their price objective on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Royal Bank Of Canada lifted their target price on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Citigroup restated a "buy" rating and set a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Finally, Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, GE Aerospace currently has a consensus rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Stock Up 1.4%

The company's 50 day moving average price is $254.73 and its 200 day moving average price is $220.90. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $292.48 billion, a price-to-earnings ratio of 38.39, a P/E/G ratio of 2.93 and a beta of 1.44.

GE Aerospace (NYSE:GE - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. During the same quarter last year, the company posted $1.20 earnings per share. The firm's revenue was up 21.2% compared to the same quarter last year. As a group, 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 disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace's payout ratio is 20.08%.

Hedge Funds Weigh In On GE Aerospace

Hedge funds and other institutional investors have recently modified their holdings of the business. Rainey & Randall Wealth Advisors Inc. acquired a new position in shares of GE Aerospace in the first quarter valued at approximately $203,000. Sendero Wealth Management LLC boosted its position in GE Aerospace by 526.6% in the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock valued at $3,004,000 after buying an additional 12,613 shares during the period. Concurrent Investment Advisors LLC grew its stake in shares of GE Aerospace by 25.1% in the first quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock worth $8,065,000 after acquiring an additional 8,245 shares in the last quarter. Global Assets Advisory LLC increased its position in shares of GE Aerospace by 186.7% during the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock worth $2,751,000 after acquiring an additional 9,580 shares during the period. Finally, Leisure Capital Management acquired a new stake in shares of GE Aerospace in the first quarter valued at $222,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

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.