GE Aerospace (NYSE:GE) Trading Down 3.2% - Here's What Happened

GE Aerospace (NYSE:GE - Get Free Report)'s share price traded down 3.2% on Tuesday . The stock traded as low as $241.19 and last traded at $243.46. 3,321,249 shares were traded during mid-day trading, a decline of 38% from the average session volume of 5,373,851 shares. The stock had previously closed at $251.41.

Analyst Ratings Changes

Several equities research analysts recently commented on GE shares. Royal Bank of Canada set a $275.00 price target on shares of GE Aerospace and gave the company an "outperform" rating in a research report on Tuesday, June 3rd. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Wells Fargo & Company increased their price objective on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Redburn Atlantic assumed coverage on GE Aerospace in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price objective for the company. Finally, UBS Group upped their target price on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $221.15.

GE Aerospace Trading Up 1.4%

The firm has a market capitalization of $261.67 billion, a price-to-earnings ratio of 40.97, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. The company has a fifty day moving average price of $212.06 and a 200-day moving average price of $197.14. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.29 by $0.20. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. On average, equities research analysts predict that GE Aerospace will post 5.4 EPS for the current year.

Insider Activity

In other news, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the sale, the vice president now directly owns 11,540 shares of the company's stock, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of GE Aerospace 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 transaction, the senior vice president now owns 8,805 shares in the company, valued at $1,766,899.35. The trade was a 15.39% 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 insiders.

Institutional Trading of GE Aerospace

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Truvestments Capital LLC increased its holdings in shares of GE Aerospace by 19.5% during the first quarter. Truvestments Capital LLC now owns 282 shares of the company's stock worth $56,000 after buying an additional 46 shares in the last quarter. Sfmg LLC increased its holdings in GE Aerospace by 2.4% during the 1st quarter. Sfmg LLC now owns 2,088 shares of the company's stock valued at $418,000 after purchasing an additional 48 shares in the last quarter. SGL Investment Advisors Inc. raised its position 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 purchasing an additional 49 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE boosted its stake in GE Aerospace by 17.6% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company's stock worth $56,000 after purchasing an additional 50 shares in the last quarter. Finally, Hudock Inc. grew its holdings in shares of GE Aerospace by 1.8% during the first quarter. Hudock Inc. now owns 2,905 shares of the company's stock worth $582,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

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.