Investors Purchase Large Volume of Call Options on GE Aerospace (NYSE:GE)

GE Aerospace (NYSE:GE - Get Free Report) was the target of unusually large options trading activity on Tuesday. Stock investors bought 28,853 call options on the stock. This represents an increase of 50% compared to the typical volume of 19,190 call options.

Institutional Trading of GE Aerospace

A number of institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in shares of GE Aerospace during the 3rd quarter valued at about $3,400,000. Westside Investment Management Inc. lifted its position in GE Aerospace by 6.0% during the third quarter. Westside Investment Management Inc. now owns 1,245 shares of the company's stock valued at $235,000 after purchasing an additional 70 shares during the period. Diamant Asset Management Inc. boosted its holdings in GE Aerospace by 2.7% in the third quarter. Diamant Asset Management Inc. now owns 6,098 shares of the company's stock worth $1,150,000 after purchasing an additional 158 shares during the last quarter. Morse Asset Management Inc boosted its holdings in GE Aerospace by 30.2% in the third quarter. Morse Asset Management Inc now owns 18,616 shares of the company's stock worth $3,511,000 after purchasing an additional 4,320 shares during the last quarter. Finally, SkyView Investment Advisors LLC grew its position in GE Aerospace by 1.9% in the 3rd quarter. SkyView Investment Advisors LLC now owns 12,240 shares of the company's stock worth $2,308,000 after purchasing an additional 232 shares during the period. Institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Up 0.6 %

Shares of NYSE:GE traded up $1.14 on Friday, hitting $198.55. 4,390,590 shares of the company traded hands, compared to its average volume of 5,397,810. The stock has a 50 day simple moving average of $194.36 and a 200-day simple moving average of $186.68. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The company has a market cap of $213.10 billion, a PE ratio of 33.15, a PEG ratio of 2.59 and a beta of 1.04. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $214.21.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.20. The business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. As a group, research analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GE. Deutsche Bank Aktiengesellschaft cut their target price on shares of GE Aerospace from $235.00 to $228.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. JPMorgan Chase & Co. upped their target price on GE Aerospace from $190.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Citigroup decreased their target price on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Redburn Atlantic started coverage on GE Aerospace in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price target on the stock. Finally, Wells Fargo & Company upped their price target on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research note on Thursday. One 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 company presently has an average rating of "Moderate Buy" and a consensus target price of $216.92.

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.