GE Aerospace (NYSE:GE) Trading Down 4% – What’s Next?

GE Aerospace (NYSE:GE) shares traded down 4% during trading on Tuesday . The stock traded as low as $309.66 and last traded at $311.9810. 10,195,354 shares were traded during mid-day trading, an increase of 113% from the average session volume of 4,784,110 shares. The stock had previously closed at $325.12.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $350.00 price target on shares of GE Aerospace in a research report on Wednesday, October 8th. JPMorgan Chase & Co. increased their target price on shares of GE Aerospace from $275.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. The Goldman Sachs Group lifted their price target on shares of GE Aerospace from $271.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. UBS Group reiterated a “buy” rating and set a $368.00 price target (up from $366.00) on shares of GE Aerospace in a report on Thursday, January 15th. Finally, Wolfe Research raised their price objective on shares of GE Aerospace from $340.00 to $360.00 and gave the stock an “outperform” rating in a research note on Monday, January 12th. Sixteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $314.00.

GE Aerospace Stock Down 4.0%

The company’s 50 day moving average price is $305.25 and its two-hundred day moving average price is $291.16. The company has a quick ratio of 0.76, a current ratio of 1.08 and a debt-to-equity ratio of 0.99. The stock has a market cap of $329.08 billion, a P/E ratio of 41.65, a P/E/G ratio of 2.22 and a beta of 1.40.

GE Aerospace (NYSE:GE) last released its quarterly earnings data on Tuesday, October 21st. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.46 by $0.20. The company had revenue of $11.31 billion for the quarter, compared to the consensus estimate of $10.29 billion. GE Aerospace had a return on equity of 34.01% and a net margin of 18.34%.GE Aerospace’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period last year, the business posted $1.15 EPS. As a group, research analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 26th. Stockholders of record on Monday, December 29th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, December 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio is presently 19.23%.

Insider Activity at GE Aerospace

In related news, SVP Russell Stokes sold 8,000 shares of GE Aerospace stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $297.71, for a total value of $2,381,680.00. Following the completion of the sale, the senior vice president directly owned 150,434 shares in the company, valued at $44,785,706.14. The trade was a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jacobsen Capital Management lifted its position in shares of GE Aerospace by 1.4% in the 3rd quarter. Jacobsen Capital Management now owns 2,295 shares of the company’s stock worth $690,000 after purchasing an additional 32 shares during the period. Harfst & Associates Inc. raised its stake in GE Aerospace by 0.4% in the third quarter. Harfst & Associates Inc. now owns 7,444 shares of the company’s stock worth $2,239,000 after buying an additional 33 shares in the last quarter. Ledyard National Bank raised its stake in GE Aerospace by 1.2% in the third quarter. Ledyard National Bank now owns 2,754 shares of the company’s stock worth $828,000 after buying an additional 33 shares in the last quarter. Hardy Reed LLC lifted its holdings in GE Aerospace by 0.7% during the third quarter. Hardy Reed LLC now owns 4,999 shares of the company’s stock worth $1,504,000 after buying an additional 33 shares during the period. Finally, Wolff Wiese Magana LLC boosted its position in GE Aerospace by 1.0% during the 4th quarter. Wolff Wiese Magana LLC now owns 3,474 shares of the company’s stock valued at $1,070,000 after acquiring an additional 33 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

About GE Aerospace

GE Aerospace (NYSE: GE) is the aerospace business of General Electric, focused on the design, manufacture and support of aircraft engines, integrated propulsion systems and related aftermarket services. The company serves commercial airlines, airframers, business and general aviation operators, and defense customers, providing propulsion solutions for a broad range of aircraft types from single?aisle airliners to widebody and military platforms.

Its product portfolio includes a family of commercial and military jet engines as well as spare parts, components and systems engineering.