GE Aerospace (NYSE:GE) Trading Up 1% After Dividend Announcement

Shares of GE Aerospace (NYSE:GE) shot up 1% during mid-day trading on Thursday following a dividend announcement from the company. The company traded as high as $294.54 and last traded at $291.49. 4,068,637 shares changed hands during trading, a decline of 25% from the average session volume of 5,389,388 shares. The stock had previously closed at $288.49.

The newly announced dividend which will be paid on Monday, January 26th. Shareholders of record on Monday, December 29th will be paid 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 dividend yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is currently 19.23%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GE shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $350.00 target price on shares of GE Aerospace in a report on Wednesday, October 8th. Zacks Research cut GE Aerospace from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. TD Cowen boosted their target price on GE Aerospace from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. increased their target price on GE Aerospace from $275.00 to $325.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of GE Aerospace in a research report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $304.31.

GE Aerospace Trading Down 2.8%

The stock has a 50-day simple moving average of $300.52 and a two-hundred day simple moving average of $276.03. 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 firm has a market cap of $299.29 billion, a PE ratio of 37.88, a price-to-earnings-growth ratio of 2.27 and a beta of 1.40.

GE Aerospace (NYSE:GE) last posted its earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.20. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The business had revenue of $11.31 billion for the quarter, compared to analysts’ expectations of $10.29 billion. During the same quarter in the prior year, the business earned $1.15 EPS. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, sell-side analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

Insider Buying and Selling

In other news, SVP Russell Stokes sold 8,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $297.71, for a total transaction of $2,381,680.00. Following the completion of the sale, the senior vice president owned 150,434 shares of the company’s stock, valued at $44,785,706.14. This represents a 5.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On GE Aerospace

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jacobsen Capital Management grew its position in shares of GE Aerospace by 1.4% during the third quarter. Jacobsen Capital Management now owns 2,295 shares of the company’s stock valued at $690,000 after purchasing an additional 32 shares in the last quarter. Harfst & Associates Inc. boosted its stake in GE Aerospace by 0.4% during the third quarter. Harfst & Associates Inc. now owns 7,444 shares of the company’s stock valued at $2,239,000 after buying an additional 33 shares during the last quarter. Ledyard National Bank grew its holdings in GE Aerospace by 1.2% during the 3rd quarter. Ledyard National Bank now owns 2,754 shares of the company’s stock valued at $828,000 after buying an additional 33 shares in the last quarter. Hardy Reed LLC grew its holdings in GE Aerospace by 0.7% during the 3rd quarter. Hardy Reed LLC now owns 4,999 shares of the company’s stock valued at $1,504,000 after buying an additional 33 shares in the last quarter. Finally, RMG Wealth Management LLC increased its stake in GE Aerospace by 8.3% in the 3rd quarter. RMG Wealth Management LLC now owns 442 shares of the company’s stock worth $132,000 after acquiring an additional 34 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

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.