GE Aerospace (NYSE:GE) Shares Down 2.2% – Here’s Why

Shares of GE Aerospace (NYSE:GE) dropped 2.2% on Wednesday . The company traded as low as $291.62 and last traded at $292.0910. Approximately 3,632,549 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 5,396,013 shares. The stock had previously closed at $298.73.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on GE shares. Citigroup initiated coverage on shares of GE Aerospace in a research note on Thursday, December 11th. They set a “buy” rating and a $386.00 price target on the stock. Bank of America boosted their target price on shares of GE Aerospace from $310.00 to $365.00 and gave the stock a “buy” rating in a report on Monday, October 27th. BNP Paribas upgraded shares of GE Aerospace to a “strong sell” rating in a research report on Tuesday, November 18th. TD Cowen lifted their price target on GE Aerospace from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Finally, Wolfe Research boosted their price objective on GE Aerospace from $280.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Sixteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $309.94.

GE Aerospace Trading Down 2.2%

The company’s 50 day moving average price is $299.56 and its two-hundred day moving average price is $279.26. The firm has a market cap of $308.10 billion, a PE ratio of 39.00, a P/E/G ratio of 2.32 and a beta of 1.40. The company has a quick ratio of 0.76, a current ratio of 1.08 and a debt-to-equity ratio of 0.99.

GE Aerospace (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.46 by $0.20. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The company had revenue of $11.31 billion for the quarter, compared to the consensus estimate of $10.29 billion. During the same period in the prior year, the firm posted $1.15 EPS. The firm’s revenue was up 26.4% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, sell-side analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 26th. Stockholders of record on Monday, December 29th will be paid 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 currently 19.23%.

Insider Buying and Selling at GE Aerospace

In related news, SVP Russell Stokes sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $297.71, for a total transaction of $2,381,680.00. Following the completion of the sale, the senior vice president directly owned 150,434 shares of the company’s stock, valued at approximately $44,785,706.14. This trade represents a 5.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.21% of the company’s stock.

Institutional Trading of GE Aerospace

A number of hedge funds and other institutional investors have recently bought and sold shares of GE. Norges Bank bought a new position in shares of GE Aerospace in the second quarter worth about $3,408,828,000. Capital World Investors lifted its holdings in GE Aerospace by 16.2% during the 3rd quarter. Capital World Investors now owns 21,442,810 shares of the company’s stock valued at $6,449,731,000 after buying an additional 2,995,054 shares in the last quarter. Amundi boosted its position in GE Aerospace by 124.0% in the 1st quarter. Amundi now owns 3,200,479 shares of the company’s stock valued at $600,506,000 after buying an additional 1,771,944 shares during the period. Jennison Associates LLC boosted its position in GE Aerospace by 21.5% in the 3rd quarter. Jennison Associates LLC now owns 8,430,878 shares of the company’s stock valued at $2,536,177,000 after buying an additional 1,494,541 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in GE Aerospace by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock worth $5,030,028,000 after acquiring an additional 1,492,486 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Company Profile

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.