GE Aerospace (NYSE:GE) Trading 4% Higher After Better-Than-Expected Earnings

GE Aerospace (NYSE:GE - Get Free Report) shares were up 4% during mid-day trading 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 were traded during mid-day 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 earnings per share for the quarter, beating 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 business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion.

GE Aerospace Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of GE Aerospace from $190.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. UBS Group raised their price objective on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research note on Wednesday. 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. Northcoast Research upgraded shares of GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 price objective for the company in a report on Wednesday, April 9th. Finally, Redburn Atlantic assumed coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 target price on the stock. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, GE Aerospace has an average rating of "Moderate Buy" and an average target price of $216.92.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in GE Aerospace by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company's stock worth $14,980,297,000 after buying an additional 410,172 shares during the last quarter. FMR LLC lifted its stake in GE Aerospace by 1.5% in the fourth quarter. FMR LLC now owns 66,823,968 shares of the company's stock valued at $11,145,570,000 after purchasing an additional 965,012 shares during the last quarter. Geode Capital Management LLC grew its holdings in GE Aerospace by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company's stock valued at $3,846,587,000 after purchasing an additional 529,457 shares during the period. Norges Bank bought a new stake in shares of GE Aerospace in the fourth quarter valued at $2,375,439,000. Finally, Northern Trust Corp lifted its position in shares of GE Aerospace by 5.8% during the 4th quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock valued at $1,675,717,000 after buying an additional 553,104 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Trading Up 0.6 %

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 current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The firm has a fifty day moving average of $194.36 and a two-hundred day moving average of $186.68.

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.