GE Aerospace (NYSE:GE) Trading 3.6% Higher Following Earnings Beat

GE Aerospace (NYSE:GE - Get Free Report)'s share price was up 3.6% on Wednesday following a better than expected earnings announcement. The stock traded as high as $197.03 and last traded at $196.04. Approximately 2,488,972 shares were traded during trading, a decline of 54% from the average daily volume of 5,460,905 shares. The stock had previously closed at $189.18.

The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $9.06 billion.

GE Aerospace Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, March 10th were issued a dividend of $0.36 per share. This is an increase from GE Aerospace's previous quarterly dividend of $0.28. The ex-dividend date was Monday, March 10th. This represents a $1.44 annualized dividend and a dividend yield of 0.73%. GE Aerospace's payout ratio is currently 22.40%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Citigroup reduced their price target 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. JPMorgan Chase & Co. boosted their price objective on GE Aerospace from $190.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft cut their target price on GE Aerospace from $235.00 to $228.00 and set a "buy" rating on the stock in a research report on Thursday, January 2nd. Wells Fargo & Company increased their price target on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, UBS Group lifted their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $216.92.

Institutional Trading of GE Aerospace

A number of large investors have recently added to or reduced their stakes in the stock. New Age Alpha Advisors LLC grew its stake in shares of GE Aerospace by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after acquiring an additional 84 shares during the period. Hager Investment Management Services LLC bought a new position in shares of GE Aerospace in the fourth quarter worth $27,000. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of GE Aerospace in the 4th quarter valued at about $28,000. Putney Financial Group LLC bought a new stake in shares of GE Aerospace during the 4th quarter valued at about $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of GE Aerospace during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Up 0.6 %

The company has a fifty day moving average price of $194.36 and a 200 day moving average price of $186.67. The company has a market cap of $213.10 billion, a PE ratio of 33.15, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. 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 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.