GE Aerospace (NYSE:GE) Shares Climb 1.1% – Here’s Why

GE Aerospace (NYSE:GE) shares traded up 1.1% on Monday. The company traded as high as $290.69 and last traded at $288.6990. 6,673,315 shares changed hands during mid-day trading, an increase of 30% from the average daily volume of 5,124,966 shares. The stock had previously closed at $285.64.

Analyst Ratings Changes

A number of analysts have recently issued reports on GE shares. UBS Group reissued a “buy” rating and issued a $380.00 price objective (up from $377.00) on shares of GE Aerospace in a research note on Wednesday, October 21st. Vertical Research restated a “buy” rating and set a $400.00 target price on shares of GE Aerospace in a research note on Tuesday, October 20th. Wells Fargo & Company dropped their target price on shares of GE Aerospace from $390.00 to $380.00 and set an “overweight” rating for the company in a report on Wednesday, September 30th. Morgan Stanley reiterated an “overweight” rating and issued a $375.00 price target (down from $400.00) on shares of GE Aerospace in a research note on Wednesday, October 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $378.00 price target on shares of GE Aerospace in a report on Wednesday, October 21st. Seventeen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $373.05.

GE Aerospace Stock Up 1.1%

The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $298.33 billion, a P/E ratio of 33.30, a P/E/G ratio of 1.95 and a beta of 1.38. The company has a 50 day simple moving average of $322.95 and a two-hundred day simple moving average of $329.02.

GE Aerospace (NYSE:GE) last released its quarterly earnings data on Tuesday, October 20th. The company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.24. GE Aerospace had a net margin of 17.31% and a return on equity of 44.43%. The firm had revenue of $13.29 billion for the quarter, compared to analysts’ expectations of $12.88 billion. During the same quarter last year, the business posted $1.66 earnings per share. The company’s revenue for the quarter was up 24.7% compared to the same quarter last year. On average, equities analysts predict that GE Aerospace will post 8.15 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Monday, October 5th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, October 5th. GE Aerospace’s dividend payout ratio (DPR) is presently 21.68%.

Institutional Trading of GE Aerospace

A number of institutional investors and hedge funds have recently bought and sold shares of GE. GK Wealth Management LLC bought a new position in shares of GE Aerospace during the 3rd quarter valued at about $25,000. Clark Wealth Partners lifted its position in shares of GE Aerospace by 70.1% in the third quarter. Clark Wealth Partners now owns 114 shares of the company’s stock worth $36,000 after buying an additional 47 shares in the last quarter. Paladin Partners LLC purchased a new stake in shares of GE Aerospace in the second quarter worth about $38,000. Parvin Asset Management LLC bought a new position in GE Aerospace during the second quarter valued at approximately $41,000. Finally, Markowski Investments bought a new position in GE Aerospace during the second quarter valued at approximately $46,000. 74.77% of the stock is currently owned by institutional investors.

About GE Aerospace

GE Aerospace (NYSE: GE) is a global aerospace company that designs, develops, manufactures and services aircraft engines and related systems. Its products support commercial air transport, business and general aviation, military aircraft, and other defense applications. The company also provides engine components, avionics, mechanical systems, digital solutions and maintenance, repair and overhaul services.

GE Aerospace serves airlines, aircraft operators, leasing companies, airframers and government customers worldwide.