GE Aerospace (NYSE:GE) Stock Price Up 2.6% Following Earnings Beat

GE Aerospace (NYSE:GE) rose 2.6% during trading on Friday following a stronger than expected earnings report. The stock traded as high as $269.70 and last traded at $267.08. Approximately 3,095,061 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 6,265,504 shares. The stock had previously closed at $260.28.

The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.43 by $0.23. The firm had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. GE Aerospace’s revenue was up 21.2% on a year-over-year basis. During the same period last year, the firm posted $1.20 EPS.

GE Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.55%. GE Aerospace’s payout ratio is currently 22.40%.

Analyst Ratings Changes

GE has been the subject of a number of recent research reports. Citigroup reissued a “buy” rating and set a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Wall Street Zen raised shares of GE Aerospace from a “hold” rating to a “buy” rating in a research report on Friday. Wells Fargo & Company raised their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Royal Bank Of Canada raised their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, UBS Group raised their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a research report on Friday. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $240.33.

Insider Buying and Selling

In related news, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction 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 owned 11,540 shares of the company’s stock, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the sale, the senior vice president directly owned 8,805 shares in the company, valued at $1,766,899.35. This represents a 15.39% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Institutional Investors Weigh In On GE Aerospace

A number of institutional investors have recently added to or reduced their stakes in GE. Brighton Jones LLC grew its stake in GE Aerospace by 25.3% in the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company’s stock valued at $2,003,000 after acquiring an additional 2,421 shares during the period. Revolve Wealth Partners LLC boosted its stake in GE Aerospace by 7.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company’s stock worth $375,000 after purchasing an additional 150 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in GE Aerospace by 62.2% during the 4th quarter. Proficio Capital Partners LLC now owns 3,327 shares of the company’s stock worth $555,000 after purchasing an additional 1,276 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in GE Aerospace during the 4th quarter worth $849,000. Finally, Advisors Asset Management Inc. boosted its stake in GE Aerospace by 13.7% during the 4th quarter. Advisors Asset Management Inc. now owns 21,264 shares of the company’s stock worth $3,547,000 after purchasing an additional 2,558 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

GE Aerospace Stock Performance

The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.77 and a current ratio of 1.04. The firm’s 50 day simple moving average is $244.37 and its 200-day simple moving average is $211.75. The company has a market cap of $280.98 billion, a price-to-earnings ratio of 36.75, a PEG ratio of 3.05 and a beta of 1.37.

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.