GE Aerospace (NYSE:GE) Stock Jumps 2.8% – What’s Next?

Shares of GE Aerospace (NYSE:GE) were up 2.8% on Friday. The company traded as high as $325.18 and last traded at $323.5360. Approximately 5,295,665 shares changed hands during trading, an increase of 3% from the average daily volume of 5,147,199 shares. The stock had previously closed at $314.73.

Key Stories Impacting GE Aerospace

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

• Positive Sentiment: GE Aerospace partnered with BETA Technologies on a hybrid-electric aircraft demonstration, marking progress in a new propulsion technology area. GE Aerospace partners with BETA Technologies
• Positive Sentiment: GE is part of a team working on KC-135 modernization, adding a defense-program opportunity alongside its commercial aerospace business. SNC teams with BAE, Collins and GE for KC-135 modernization
• Neutral Sentiment: Analyst coverage highlighted GE’s roughly $170 billion services backlog and generally favorable ratings, but also questioned whether the stock’s valuation already reflects much of its growth potential. GE Aerospace backlog and valuation analysis
• Negative Sentiment: Vice President Robert Giglietti sold 14,796 shares, cutting his reported stake by about 42%. Insider sales can have many explanations, but may contribute to investor caution. GE Aerospace VP sells shares
• Negative Sentiment: ETFs were reported as net sellers of GE shares, a sign of near-term fund outflows that could weigh on sentiment. ETFs are net sellers of General Electric

Wall Street Analyst Weigh In

GE has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $378.00 price objective on shares of GE Aerospace in a report on Wednesday, October 21st. Morgan Stanley reiterated an “overweight” rating and issued a $375.00 target price (down from $400.00) on shares of GE Aerospace in a research note on Wednesday, October 21st. Weiss Ratings reissued a “buy (b)” rating on shares of GE Aerospace in a research report on Thursday, October 15th. Susquehanna cut their price target on shares of GE Aerospace from $430.00 to $400.00 and set a “positive” rating on the stock in a research note on Wednesday, October 21st. Finally, Vertical Research reaffirmed a “buy” rating and issued a $400.00 price target on shares of GE Aerospace in a report on Tuesday, October 20th. Sixteen investment 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. According to data from MarketBeat.com, GE Aerospace has a consensus rating of “Moderate Buy” and an average price target of $373.45.

GE Aerospace Price Performance

The company has a debt-to-equity ratio of 0.96, a current ratio of 0.98 and a quick ratio of 0.68. The stock has a market cap of $334.33 billion, a price-to-earnings ratio of 37.32, a P/E/G ratio of 2.20 and a beta of 1.43. The stock has a fifty day moving average of $314.70 and a 200 day moving average of $323.12.

GE Aerospace (NYSE:GE) last announced 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 for 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%. The firm’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period last year, the firm earned $1.66 EPS. On average, analysts expect that GE Aerospace will post 8.16 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Monday, October 5th were paid a $0.47 dividend. The ex-dividend date was Monday, October 5th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.6%. GE Aerospace’s dividend payout ratio is presently 21.68%.

Insider Buying and Selling

In related news, VP Robert Giglietti sold 14,796 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $332.54, for a total transaction of $4,920,261.84. Following the sale, the vice president directly owned 20,201 shares of the company’s stock, valued at $6,717,640.54. This trade represents a 42.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GE Aerospace

Several institutional investors and hedge funds have recently modified their holdings of GE. Burkett Financial Services LLC raised its holdings in shares of GE Aerospace by 28.9% in the 2nd quarter. Burkett Financial Services LLC now owns 125 shares of the company’s stock valued at $47,000 after buying an additional 28 shares during the period. BOK Financial Private Wealth Inc. lifted its stake in GE Aerospace by 3.2% during the 2nd quarter. BOK Financial Private Wealth Inc. now owns 960 shares of the company’s stock worth $359,000 after acquiring an additional 30 shares in the last quarter. Gradient Investments LLC lifted its stake in GE Aerospace by 4.4% during the 2nd quarter. Gradient Investments LLC now owns 765 shares of the company’s stock worth $286,000 after acquiring an additional 32 shares in the last quarter. Kinloch Capital LLC boosted its holdings in GE Aerospace by 3.1% during the 2nd quarter. Kinloch Capital LLC now owns 1,079 shares of the company’s stock valued at $403,000 after acquiring an additional 32 shares during the period. Finally, United Community Bank boosted its holdings in GE Aerospace by 10.1% during the 2nd quarter. United Community Bank now owns 361 shares of the company’s stock valued at $135,000 after acquiring an additional 33 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Company Profile

GE Aerospace (NYSE: GE) designs, manufactures and services engines and related systems for commercial and military aircraft. Its offerings include aircraft engines, components, avionics and other integrated systems, along with maintenance, repair and overhaul services and digital solutions that support aircraft operations.

The company serves airlines, aircraft manufacturers, governments and defense organizations around the world. Its business combines original equipment production with long-term aftermarket support, including parts and technical services for engines already in operation.

GE Aerospace traces its roots to General Electric’s aviation business, which developed over more than a century.