GE Aerospace (NYSE:GE) Shares Up 2.7% After Dividend Announcement

Shares of GE Aerospace (NYSE:GE) shot up 2.7% during mid-day trading on Thursday following a dividend announcement from the company. The company traded as high as $297.65 and last traded at $297.27. 3,929,801 shares were traded during mid-day trading, a decline of 32% from the average session volume of 5,810,743 shares. The stock had previously closed at $289.50.

The newly announced dividend which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be given a dividend of $0.36 per share. The ex-dividend date is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is 20.08%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GE. UBS Group increased their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Royal Bank Of Canada increased their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, July 18th. Sanford C. Bernstein reiterated an “outperform” rating on shares of GE Aerospace in a research report on Friday, August 15th. Wells Fargo & Company increased their target price on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Finally, Citigroup reiterated a “buy” rating and set a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $232.92.

GE Aerospace Trading Up 2.7%

The business’s fifty day simple moving average is $272.70 and its 200 day simple moving average is $236.15. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The stock has a market cap of $315.23 billion, a P/E ratio of 41.46, a price-to-earnings-growth ratio of 3.11 and a beta of 1.48.

GE Aerospace (NYSE:GE) last issued its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.23. The company had revenue of $10.15 billion for 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%. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, analysts expect that GE Aerospace will post 5.4 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GE. Norges Bank bought a new position in shares of GE Aerospace in the 2nd quarter valued at about $3,408,828,000. GQG Partners LLC bought a new position in GE Aerospace during the 1st quarter worth approximately $1,606,840,000. GAMMA Investing LLC boosted its stake in GE Aerospace by 23,611.7% during the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company’s stock worth $1,013,959,000 after acquiring an additional 5,044,632 shares during the last quarter. Nuveen LLC bought a new position in GE Aerospace during the 1st quarter worth approximately $777,075,000. Finally, Amundi boosted its stake in 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 acquiring an additional 1,771,944 shares during the last quarter. Institutional investors 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.