GE Aerospace (NYSE:GE) Stock Jumps 4.5% – Here’s What Happened

Shares of GE Aerospace (NYSE:GE) shot up 4.5% on Monday. The stock traded as high as $316.79 and last traded at $315.3790. 4,815,631 shares were traded during trading, a decline of 6% from the average daily volume of 5,140,683 shares. The stock had previously closed at $301.80.

GE Aerospace News Summary

Here are the key news stories impacting GE Aerospace this week:

• Positive Sentiment: GE Aerospace will supply LM2500 marine gas turbines for two U.S. Navy Flight III destroyers. The reports say the ships will use eight GE gas turbine engines in total, adding defense business and potential follow-on service work. GE Aerospace to Supply Engines for Two US Navy Flight III Destroyers
• Positive Sentiment: Commercial engine demand remains a tailwind: GE’s commercial segment is seeing strong orders and services activity for LEAP, GEnx and GE9X engines. CFM International, GE’s joint venture with Safran, also secured large LEAP engine agreements, including orders tied to IndiGo and Turkish Airlines fleets. GE’s Commercial Engines Segment Gains Momentum: Can It Sustain?
• Neutral Sentiment: Call-option trading in GE was unusually active, with volume reported at 161% above its average. This may signal bullish positioning, but options activity is speculative and does not by itself confirm improved fundamentals. GE Aerospace options activity
• Negative Sentiment: GE Aerospace revised inspection guidance for certain GEnx-1B engines after a study reported premature cracks in some turbine blades. Additional checks could create maintenance and scheduling burdens for airlines and raise near-term uncertainty, although the reports do not quantify a financial impact. General Electric (GE) Updates Engine Checks After Study Flags Early Blade Cracks

Wall Street Analyst Weigh In

GE has been the subject of a number of research analyst reports. Royal Bank Of Canada set a $376.00 target price on GE Aerospace in a research report on Friday, October 23rd. TD Cowen reissued a “buy” rating and issued a $380.00 target price (up from $330.00) on shares of GE Aerospace in a report on Monday, July 13th. Guggenheim set a $380.00 price target on GE Aerospace in a research note on Wednesday, October 21st. BNP Paribas Exane reduced their price objective on shares of GE Aerospace from $305.00 to $280.00 and set an “underperform” rating for the company in a research report on Wednesday, October 21st. Finally, JPMorgan Chase & Co. decreased their target price on shares of GE Aerospace from $400.00 to $375.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 21st. Sixteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $373.45.

GE Aerospace Trading Up 2.9%

The business has a fifty day simple moving average of $315.88 and a 200 day simple moving average of $323.12. The stock has a market cap of $340.91 billion, a price-to-earnings ratio of 41.65, a PEG ratio of 2.18 and a beta of 1.43. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.68 and a current ratio of 0.98.

GE Aerospace (NYSE:GE) last released its quarterly earnings results on Tuesday, October 20th. The company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.24. The company had revenue of $13.29 billion during the quarter, compared to the consensus estimate of $12.88 billion. GE Aerospace had a return on equity of 44.43% and a net margin of 17.31%. GE Aerospace’s revenue was up 24.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.66 earnings per share. As a group, equities analysts anticipate that GE Aerospace will post 8.16 EPS for the current year.

GE Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 26th. Shareholders of record on Monday, October 5th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, October 5th. GE Aerospace’s dividend payout ratio is currently 21.68%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GE. State Street Corp raised its position in shares of GE Aerospace by 2.6% in the 2nd quarter. State Street Corp now owns 46,497,628 shares of the company’s stock worth $17,377,559,000 after buying an additional 1,160,584 shares during the period. Jennison Associates LLC boosted its holdings in GE Aerospace by 37.7% in the 1st quarter. Jennison Associates LLC now owns 11,026,006 shares of the company’s stock worth $3,128,850,000 after acquiring an additional 3,017,937 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in GE Aerospace by 6.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,251,603 shares of the company’s stock valued at $2,710,142,000 after purchasing an additional 427,820 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of GE Aerospace by 97.3% during the second quarter. Wellington Management Group LLP now owns 6,797,935 shares of the company’s stock valued at $2,540,592,000 after acquiring an additional 3,352,432 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in GE Aerospace by 10.0% during the 1st quarter. Bank of America Corp DE now owns 7,664,679 shares of the company’s stock worth $2,175,006,000 after purchasing an additional 695,731 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Company Profile

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.