GE Aerospace (NYSE:GE) Stock Price Down 1.1% – Here’s Why

Shares of GE Aerospace (NYSE:GE) traded down 1.1% on Monday . The stock traded as low as $251.14 and last traded at $252.79. 1,225,240 shares were traded during mid-day trading, a decline of 77% from the average session volume of 5,363,893 shares. The stock had previously closed at $255.63.

Wall Street Analyst Weigh In

GE has been the subject of a number of analyst reports. Northcoast Research downgraded shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. UBS Group raised their target price on GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Wells Fargo & Company raised their price objective 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. Citigroup dropped their target price on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, Royal Bank of Canada set a $275.00 price target on shares of GE Aerospace and gave the company an “outperform” rating in a research note on Tuesday, June 3rd. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.15.

GE Aerospace Stock Down 1.0%

The stock has a 50 day moving average price of $209.94 and a 200 day moving average price of $196.34. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The company has a market capitalization of $269.82 billion, a P/E ratio of 42.25, a PEG ratio of 2.59 and a beta of 1.38.

GE Aerospace (NYSE:GE) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.20. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. Equities research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Robert M. Giglietti sold 4,104 shares of the business’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 completion of the sale, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the company’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the sale, the senior vice president now owns 8,805 shares of the company’s stock, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Institutional Trading of GE Aerospace

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sendero Wealth Management LLC grew its position in GE Aerospace by 526.6% during the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company’s stock valued at $3,004,000 after purchasing an additional 12,613 shares during the last quarter. Chung Wu Investment Group LLC purchased a new position in GE Aerospace in the 4th quarter worth approximately $795,000. National Bank of Canada FI lifted its position in GE Aerospace by 2.9% in the 4th quarter. National Bank of Canada FI now owns 1,064,417 shares of the company’s stock valued at $177,535,000 after acquiring an additional 29,844 shares in the last quarter. National Pension Service boosted its position in shares of GE Aerospace by 1.7% during the fourth quarter. National Pension Service now owns 2,254,637 shares of the company’s stock valued at $376,051,000 after buying an additional 37,884 shares during the last quarter. Finally, FourThought Financial Partners LLC purchased a new position in GE Aerospace in the 4th quarter worth about $507,000. Hedge funds and other 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.