GE Aerospace (NYSE:GE) Trading 4.1% Higher – Here’s Why

GE Aerospace (NYSE:GE) shot up 4.1% during trading on Friday . The company traded as high as $304.01 and last traded at $300.23. 8,934,805 shares changed hands during mid-day trading, an increase of 66% from the average session volume of 5,386,674 shares. The stock had previously closed at $288.42.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. UBS Group set a $366.00 target price on GE Aerospace and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Sanford C. Bernstein reissued an “outperform” rating on shares of GE Aerospace in a research note on Monday, October 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Aerospace in a research report on Wednesday, October 8th. Royal Bank Of Canada lifted their target price on shares of GE Aerospace from $300.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Finally, Zacks Research downgraded shares of GE Aerospace from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 26th. Sixteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, GE Aerospace currently has a consensus rating of “Moderate Buy” and a consensus target price of $309.94.

GE Aerospace Stock Performance

The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.76 and a current ratio of 1.08. The stock’s 50-day simple moving average is $299.50 and its two-hundred day simple moving average is $277.51. The stock has a market cap of $316.69 billion, a price-to-earnings ratio of 40.08, a price-to-earnings-growth ratio of 2.20 and a beta of 1.40.

GE Aerospace (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.20. GE Aerospace had a return on equity of 34.01% and a net margin of 18.34%.The business had revenue of $11.31 billion for the quarter, compared to analyst estimates of $10.29 billion. During the same period in the previous year, the company posted $1.15 earnings per share. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 26th. Investors 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 yield of 0.5%. GE Aerospace’s payout ratio is 19.23%.

Insider Buying and Selling

In other GE Aerospace news, SVP Russell Stokes sold 8,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $297.71, for a total value of $2,381,680.00. Following the sale, the senior vice president directly owned 150,434 shares in the company, valued at $44,785,706.14. This trade represents a 5.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GE Aerospace

Several large investors have recently added to or reduced their stakes in GE. Norges Bank bought a new position in GE Aerospace during the second quarter worth about $3,408,828,000. Capital World Investors raised its holdings in shares of GE Aerospace by 16.2% in the 3rd quarter. Capital World Investors now owns 21,442,810 shares of the company’s stock worth $6,449,731,000 after buying an additional 2,995,054 shares in the last quarter. Amundi lifted its position in shares of GE Aerospace by 124.0% during the 1st quarter. Amundi now owns 3,200,479 shares of the company’s stock worth $600,506,000 after buying an additional 1,771,944 shares during the period. Jennison Associates LLC boosted its stake 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in GE Aerospace by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock valued at $5,030,028,000 after acquiring an additional 1,492,486 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

About GE Aerospace

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.