GE Aerospace (NYSE:GE) Trading 1.6% Higher – Here’s What Happened

GE Aerospace (NYSE:GE)’s stock price rose 1.6% on Wednesday . The company traded as high as $301.67 and last traded at $300.84. Approximately 2,877,197 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 5,417,479 shares. The stock had previously closed at $296.01.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GE. Wells Fargo & Company raised their target price on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Barclays lifted their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Jefferies Financial Group upped their target price on GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. The Goldman Sachs Group lifted their price target on GE Aerospace from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Finally, Royal Bank Of Canada upped their price objective on GE Aerospace from $300.00 to $340.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Fifteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $301.27.

GE Aerospace Stock Up 1.6%

The company has a market cap of $317.33 billion, a price-to-earnings ratio of 40.17, a PEG ratio of 3.09 and a beta of 1.56. The company has a current ratio of 1.08, a quick ratio of 0.76 and a debt-to-equity ratio of 0.99. The business has a fifty day moving average of $300.80 and a two-hundred day moving average of $270.17.

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

GE Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Monday, September 29th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, September 29th. GE Aerospace’s payout ratio is presently 19.23%.

Institutional Trading of GE Aerospace

Several institutional investors have recently modified their holdings of the stock. REAP Financial Group LLC purchased a new stake in GE Aerospace during the 3rd quarter worth approximately $25,000. Marquette Asset Management LLC purchased a new stake in shares of GE Aerospace during the third quarter worth approximately $26,000. Barnes Dennig Private Wealth Management LLC lifted its holdings in GE Aerospace by 147.2% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 89 shares of the company’s stock valued at $27,000 after purchasing an additional 53 shares in the last quarter. Bare Financial Services Inc lifted its holdings in GE Aerospace by 81.1% in the 2nd quarter. Bare Financial Services Inc now owns 96 shares of the company’s stock valued at $25,000 after purchasing an additional 43 shares in the last quarter. Finally, Roble Belko & Company Inc boosted its stake in GE Aerospace by 98.1% during the 3rd quarter. Roble Belko & Company Inc now owns 103 shares of the company’s stock worth $31,000 after purchasing an additional 51 shares during the last quarter. Institutional investors and hedge funds 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.