GE Aerospace (NYSE:GE) Stock Price Up 2.6% After Dividend Announcement

GE Aerospace (NYSE:GE)’s share price traded up 2.6% on Friday following a dividend announcement from the company. The company traded as high as $256.82 and last traded at $257.57. 1,909,780 shares were traded during trading, a decline of 65% from the average session volume of 5,388,460 shares. The stock had previously closed at $251.00.

The newly announced dividend which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.57%. GE Aerospace’s payout ratio is currently 22.40%.

Analysts Set New Price Targets

GE has been the topic of several recent research reports. UBS Group raised their price objective on GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Northcoast Research lowered GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Royal Bank Of Canada set a $275.00 price target on GE Aerospace and gave the company an “outperform” rating in a research note on Tuesday, June 3rd. Wells Fargo & Company upped their price target on GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Finally, Citigroup cut their price target on GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, GE Aerospace currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.15.

GE Aerospace Price Performance

The company’s fifty day moving average is $228.63 and its two-hundred day moving average is $202.77. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $271.39 billion, a price-to-earnings ratio of 39.58, a price-to-earnings-growth ratio of 3.03 and a beta of 1.38.

GE Aerospace (NYSE:GE) last released its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.20. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. Equities research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Robert M. Giglietti sold 4,104 shares of the firm’s stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the sale, the vice president now directly owns 11,540 shares of the company’s stock, valued at $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the transaction, the senior vice president now directly owns 8,805 shares in the company, valued at $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Institutional Trading of GE Aerospace

Several large investors have recently added to or reduced their stakes in GE. New Age Alpha Advisors LLC raised its position in shares of GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock worth $25,000 after purchasing an additional 84 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new position in GE Aerospace in the 4th quarter worth approximately $28,000. Putney Financial Group LLC purchased a new stake in shares of GE Aerospace during the 4th quarter worth approximately $28,000. IMA Advisory Services Inc. purchased a new stake in GE Aerospace during the 1st quarter valued at $28,000. Finally, CBIZ Investment Advisory Services LLC purchased a new stake in GE Aerospace in the fourth quarter worth $29,000. 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.