GE Aerospace (NYSE:GE) Trading Down 1.6% – Here’s What Happened

GE Aerospace (NYSE:GE) was down 1.6% during trading on Monday . The stock traded as low as $352.03 and last traded at $353.4780. Approximately 2,656,885 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 5,626,093 shares. The stock had previously closed at $359.27.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wells Fargo & Company began coverage on shares of GE Aerospace in a research report on Wednesday, April 1st. They issued an “overweight” rating and a $325.00 price objective on the stock. Citigroup reiterated a “buy” rating and issued a $431.00 price objective (up from $353.00) on shares of GE Aerospace in a report on Wednesday, July 1st. Zacks Research downgraded GE Aerospace from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. BNP Paribas Exane reduced their price objective on shares of GE Aerospace from $300.00 to $270.00 and set an “underperform” rating on the stock in a research report on Thursday, May 14th. Finally, Daiwa Securities Group assumed coverage on shares of GE Aerospace in a research report on Tuesday, March 31st. They set a “neutral” rating and a $301.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, GE Aerospace presently has a consensus rating of “Moderate Buy” and an average price target of $363.11.

GE Aerospace Stock Down 0.1%

The company has a debt-to-equity ratio of 0.99, a current ratio of 1.01 and a quick ratio of 0.70. The stock has a 50 day simple moving average of $333.33 and a 200-day simple moving average of $317.78. The firm has a market cap of $368.52 billion, a PE ratio of 43.50, a PEG ratio of 3.13 and a beta of 1.35.

GE Aerospace (NYSE:GE) last posted its quarterly earnings results on Tuesday, April 21st. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.26. The firm had revenue of $11.61 billion during the quarter, compared to analyst estimates of $11.61 billion. GE Aerospace had a return on equity of 37.99% and a net margin of 17.86%.GE Aerospace’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.49 EPS. GE Aerospace has set its FY 2026 guidance at 7.100-7.400 EPS. Sell-side analysts predict that GE Aerospace will post 7.48 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 27th. Shareholders of record on Monday, July 6th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is presently 23.15%.

Hedge Funds Weigh In On GE Aerospace

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Auto Owners Insurance Co raised its holdings in GE Aerospace by 52,247.5% in the 4th quarter. Auto Owners Insurance Co now owns 65,721,281 shares of the company’s stock worth $2,024,413,000 after purchasing an additional 65,595,733 shares during the period. Norges Bank bought a new position in shares of GE Aerospace during the 4th quarter valued at approximately $4,444,736,000. Amundi increased its holdings in GE Aerospace by 135.2% in the 1st quarter. Amundi now owns 6,119,975 shares of the company’s stock worth $1,736,665,000 after acquiring an additional 3,518,278 shares in the last quarter. Jennison Associates LLC raised its stake in GE Aerospace by 37.7% during the 1st quarter. Jennison Associates LLC now owns 11,026,006 shares of the company’s stock worth $3,128,850,000 after acquiring an additional 3,017,937 shares during the period. Finally, Corient Private Wealth LLC lifted its holdings in GE Aerospace by 382.1% during the fourth quarter. Corient Private Wealth LLC now owns 2,757,281 shares of the company’s stock valued at $849,325,000 after purchasing an additional 2,185,321 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

GE Aerospace Company Profile

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.