GE Aerospace (NYSE:GE) Trading 2.3% Higher – Here’s What Happened

Shares of GE Aerospace (NYSE:GEGet Free Report) rose 2.3% on Thursday . The company traded as high as $349.72 and last traded at $349.1160. Approximately 3,737,714 shares traded hands during trading, a decline of 33% from the average session volume of 5,581,710 shares. The stock had previously closed at $341.19.

More GE Aerospace News

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

Wall Street Analyst Weigh In

A number of brokerages have commented on GE. Jefferies Financial Group raised their price objective on GE Aerospace from $365.00 to $455.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. lifted their price target on shares of GE Aerospace from $335.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday. Wall Street Zen cut shares of GE Aerospace from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. Susquehanna reiterated a “positive” rating and set a $430.00 target price (up from $380.00) on shares of GE Aerospace in a research report on Thursday, July 9th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $410.00 price objective on shares of GE Aerospace in a report on Monday. Sixteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $386.88.

Check Out Our Latest Stock Report on GE Aerospace

GE Aerospace Trading Up 2.3%

The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.67 and a current ratio of 0.98. The stock has a market cap of $362.23 billion, a P/E ratio of 41.12, a P/E/G ratio of 2.61 and a beta of 1.35. The company has a 50-day simple moving average of $338.91 and a 200-day simple moving average of $319.23.

GE Aerospace (NYSE:GEGet Free Report) last announced its earnings results on Thursday, July 16th. The company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.16. The company had revenue of $12.63 billion during the quarter, compared to analyst estimates of $11.87 billion. GE Aerospace had a return on equity of 40.56% and a net margin of 17.72%.The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period last year, the company posted $1.66 earnings per share. GE Aerospace has set its FY 2026 guidance at 7.650-7.850 EPS. On average, sell-side analysts forecast that GE Aerospace will post 7.9 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 27th. Stockholders of record on Monday, July 6th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, July 6th. GE Aerospace’s dividend payout ratio is presently 22.14%.

Institutional Inflows and Outflows

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

GE Aerospace Company Profile

(Get Free Report)

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.

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