GE Aerospace (NYSE:GE) Trading Down 2.2% - Here's Why

Shares of GE Aerospace (NYSE:GE - Get Free Report) fell 2.2% on Monday . The company traded as low as $177.68 and last traded at $177.86. 1,502,158 shares were traded during mid-day trading, a decline of 74% from the average session volume of 5,834,726 shares. The stock had previously closed at $181.79.

Analyst Upgrades and Downgrades

GE has been the topic of a number of research reports. Citigroup reduced their target price on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft lowered their target price on GE Aerospace from $235.00 to $228.00 and set a "buy" rating for the company in a research note on Thursday, January 2nd. UBS Group increased their price target on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research report on Wednesday. Bank of America boosted their price objective on GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Finally, Redburn Atlantic began coverage on shares of GE Aerospace in a research note on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price target for the company. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $216.92.

GE Aerospace Trading Up 0.6 %

The business's 50-day moving average is $194.36 and its two-hundred day moving average is $186.68. The stock has a market capitalization of $213.10 billion, a PE ratio of 33.15, a PEG ratio of 2.59 and a beta of 1.04. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

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

GE Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.73%. This is a boost from GE Aerospace's previous quarterly dividend of $0.28. GE Aerospace's dividend payout ratio is currently 22.40%.

Hedge Funds Weigh In On GE Aerospace

A number of hedge funds and other institutional investors have recently made changes to their positions in GE. Smallwood Wealth Investment Management LLC acquired a new stake in GE Aerospace during the 1st quarter worth approximately $59,000. Smith Salley Wealth Management acquired a new stake in shares of GE Aerospace during the first quarter worth $229,000. Koshinski Asset Management Inc. acquired a new position in GE Aerospace in the 1st quarter valued at $230,000. Essex LLC raised its position in GE Aerospace by 2.5% during the 1st quarter. Essex LLC now owns 20,150 shares of the company's stock worth $4,033,000 after buying an additional 484 shares during the last quarter. Finally, Franklin Parlapiano Turner & Welch LLC purchased a new position in GE Aerospace during the 1st quarter worth $225,000. Hedge funds and other institutional investors 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.