GE Aerospace (NYSE:GE) Trading Up 3.6% Following Earnings Beat

GE Aerospace (NYSE:GE)’s share price traded up 3.6% during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $197.03 and last traded at $196.04. 2,488,972 shares were traded during trading, a decline of 54% from the average session volume of 5,460,905 shares. The stock had previously closed at $189.18.

The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.20. The company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%.

GE Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a $0.36 dividend. This is a positive change from GE Aerospace’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.74%. The ex-dividend date is Monday, March 10th. GE Aerospace’s payout ratio is presently 24.04%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GE. Bank of America lifted their target price on GE Aerospace from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft cut their price target on shares of GE Aerospace from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. JPMorgan Chase & Co. increased their price target on shares of GE Aerospace from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. UBS Group boosted their price target on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $220.00 target price on shares of GE Aerospace in a research report on Wednesday. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $213.40.

Institutional Investors Weigh In On GE Aerospace

Institutional investors have recently modified their holdings of the company. Penobscot Investment Management Company Inc. raised its position in shares of GE Aerospace by 7.1% in the 1st quarter. Penobscot Investment Management Company Inc. now owns 7,898 shares of the company’s stock worth $1,581,000 after acquiring an additional 526 shares in the last quarter. Oak Hill Wealth Advisors LLC raised its stake in GE Aerospace by 26.2% during the 1st quarter. Oak Hill Wealth Advisors LLC now owns 1,806 shares of the company’s stock worth $361,000 after buying an additional 375 shares during the period. Western Wealth Management LLC grew its stake in GE Aerospace by 4.0% in the first quarter. Western Wealth Management LLC now owns 13,357 shares of the company’s stock valued at $2,673,000 after acquiring an additional 513 shares during the period. Nvest Financial LLC acquired a new position in shares of GE Aerospace during the first quarter worth approximately $210,000. Finally, Creative Financial Designs Inc. ADV lifted its holdings in shares of GE Aerospace by 5.2% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 1,464 shares of the company’s stock worth $293,000 after purchasing an additional 73 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

GE Aerospace Trading Up 2.4 %

The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The firm’s 50-day moving average is $194.82 and its 200-day moving average is $186.53. The firm has a market cap of $207.90 billion, a price-to-earnings ratio of 32.34, a P/E/G ratio of 2.59 and a beta of 1.04.

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.