GE Aerospace (NYSE:GE) Stock Price Down 3.7% – What’s Next?

Shares of GE Aerospace (NYSE:GE) dropped 3.7% during trading on Friday. The company traded as low as $299.98 and last traded at $301.58. Approximately 5,098,823 shares changed hands during trading, a decline of 1% from the average session volume of 5,141,456 shares. The stock had previously closed at $313.05.

Key GE Aerospace News

Here are the key news stories impacting GE Aerospace this week:

• Positive Sentiment: GE approved NYCO’s French turbine oil for Boeing 787 GEnx-1B engines following Air France trials. The approval could support engine reliability and broaden GE’s aftermarket and maintenance opportunities. GE approves French turbine oil for Boeing 787 after Air France trials
• Positive Sentiment: A next-generation aircraft test flight over GE Aerospace’s Niskayuna, New York, research center highlights the company’s involvement in future aircraft and propulsion technologies. While not an immediate earnings catalyst, the activity reinforces GE’s long-term innovation pipeline. Future generation of planes test flight
• Positive Sentiment: GE’s engine and services businesses continue to benefit from commercial aviation demand, with analysts still recognizing the strength of its aftermarket franchise despite more cautious expectations. Is GE Aerospace Stock Worth More Than Its Competitors?

Analysts Set New Price Targets

GE has been the topic of a number of recent analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $425.00 price objective on shares of GE Aerospace in a research report on Sunday, October 25th. JPMorgan Chase & Co. dropped their target price on GE Aerospace from $400.00 to $375.00 and set an “overweight” rating for the company in a research report on Wednesday, October 21st. Vertical Research reaffirmed a “buy” rating and set a $400.00 target price on shares of GE Aerospace in a research note on Tuesday, October 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Aerospace in a research note on Thursday, October 15th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $375.00 price target (down from $400.00) on shares of GE Aerospace in a report on Wednesday, October 21st. Sixteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $373.45.

GE Aerospace Stock Down 3.7%

The firm has a market cap of $311.64 billion, a P/E ratio of 34.78, a P/E/G ratio of 2.05 and a beta of 1.38. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.96. The business has a 50-day moving average price of $317.37 and a 200-day moving average price of $323.12.

GE Aerospace (NYSE:GE) last released its quarterly earnings data on Tuesday, October 20th. The company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.24. GE Aerospace had a return on equity of 44.43% and a net margin of 17.31%. The firm had revenue of $13.29 billion during the quarter, compared to the consensus estimate of $12.88 billion. During the same period in the previous year, the company posted $1.66 earnings per share. The firm’s quarterly revenue was up 24.7% on a year-over-year basis. On average, equities analysts forecast that GE Aerospace will post 8.16 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 26th. Shareholders of record on Monday, October 5th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, October 5th. This represents a $1.88 dividend on an annualized basis and a yield of 0.6%. GE Aerospace’s dividend payout ratio (DPR) is 21.68%.

Institutional Investors Weigh In On GE Aerospace

Hedge funds have recently modified their holdings of the business. GK Wealth Management LLC purchased a new position in shares of GE Aerospace during the 3rd quarter valued at approximately $25,000. Paladin Partners LLC purchased a new stake in GE Aerospace during the second quarter worth $38,000. Parvin Asset Management LLC purchased a new stake in GE Aerospace during the second quarter worth $41,000. Clark Wealth Partners boosted its holdings in GE Aerospace by 70.1% during the third quarter. Clark Wealth Partners now owns 114 shares of the company’s stock worth $36,000 after buying an additional 47 shares in the last quarter. Finally, Markowski Investments acquired a new stake in GE Aerospace during the second quarter valued at $46,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

About GE Aerospace

GE Aerospace (NYSE: GE) is a global aerospace company that designs, develops, manufactures and services aircraft engines and related systems. Its products support commercial air transport, business and general aviation, military aircraft, and other defense applications. The company also provides engine components, avionics, mechanical systems, digital solutions and maintenance, repair and overhaul services.

GE Aerospace serves airlines, aircraft operators, leasing companies, airframers and government customers worldwide.