GE Aerospace (NYSE:GE) Shares Gap Up After Earnings Beat

GE Aerospace (NYSE:GE - Get Free Report) gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $178.35, but opened at $186.50. GE Aerospace shares last traded at $183.40, with a volume of 1,415,873 shares changing hands.

The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.20. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion.

GE Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from GE Aerospace's previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.73%. GE Aerospace's dividend payout ratio is 24.04%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GE. Deutsche Bank Aktiengesellschaft cut their price objective on shares of GE Aerospace from $235.00 to $228.00 and set a "buy" rating on the stock in a report on Thursday, January 2nd. Bank of America boosted their price objective on shares of GE Aerospace from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Redburn Atlantic assumed coverage on GE Aerospace in a research report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 target price on the stock. Northcoast Research raised GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 price target for the company in a research report on Wednesday, April 9th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $220.00 price objective on shares of GE Aerospace in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $214.07.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GE. Virtu Financial LLC bought a new stake in shares of GE Aerospace in the 3rd quarter valued at approximately $3,400,000. Westside Investment Management Inc. increased its stake in GE Aerospace by 6.0% during the third quarter. Westside Investment Management Inc. now owns 1,245 shares of the company's stock valued at $235,000 after purchasing an additional 70 shares during the last quarter. Diamant Asset Management Inc. raised its holdings in shares of GE Aerospace by 2.7% during the third quarter. Diamant Asset Management Inc. now owns 6,098 shares of the company's stock worth $1,150,000 after purchasing an additional 158 shares during the period. Morse Asset Management Inc lifted its position in shares of GE Aerospace by 30.2% in the 3rd quarter. Morse Asset Management Inc now owns 18,616 shares of the company's stock worth $3,511,000 after buying an additional 4,320 shares during the last quarter. Finally, SkyView Investment Advisors LLC boosted its holdings in shares of GE Aerospace by 1.9% in the 3rd quarter. SkyView Investment Advisors LLC now owns 12,240 shares of the company's stock valued at $2,308,000 after buying an additional 232 shares during the period. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Trading Up 1.3 %

The firm has a market cap of $210.63 billion, a P/E ratio of 32.65, a P/E/G ratio of 2.59 and a beta of 1.04. The business's 50-day moving average is $194.82 and its two-hundred day moving average is $186.53. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

GE Aerospace Company Profile

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.