GE Aerospace (NYSE:GE) Trading 4% Higher on Earnings Beat

Shares of GE Aerospace (NYSE:GE - Get Free Report) were up 4% on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $188.00 and last traded at $185.55. Approximately 3,065,577 shares traded hands during trading, a decline of 44% from the average daily volume of 5,441,606 shares. The stock had previously closed at $178.35.

The company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.20. The business had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%.

GE Aerospace Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GE shares. Northcoast Research raised GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 target price on the stock in a research report on Wednesday, April 9th. JPMorgan Chase & Co. increased their target price on shares of GE Aerospace from $190.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Redburn Atlantic started coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 target price for the company. Royal Bank of Canada reiterated an "outperform" rating and set a $220.00 price target on shares of GE Aerospace in a report on Wednesday. Finally, Wells Fargo & Company increased their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $216.92.

Institutional Inflows and Outflows

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

GE Aerospace Trading Up 0.6 %

The company has a market capitalization 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. The company's fifty day moving average is $194.36 and its 200-day moving average is $186.67.

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.