GE Aerospace (NYSE:GE) Stock Price Up 4% Following Better-Than-Expected Earnings

GE Aerospace (NYSE:GE - Get Free Report)'s share price traded up 4% during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $188.00 and last traded at $185.55. 3,065,577 shares were traded during mid-day trading, a decline of 44% from the average session volume of 5,441,606 shares. The stock had previously closed at $178.35.

The company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.20. The company had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%.

GE Aerospace Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, March 10th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.73%. The ex-dividend date was Monday, March 10th. This is an increase from GE Aerospace's previous quarterly dividend of $0.28. GE Aerospace's payout ratio is presently 22.40%.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of recent research reports. UBS Group raised their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday. Royal Bank of Canada restated an "outperform" rating and issued a $220.00 target price on shares of GE Aerospace in a research note on Wednesday. Citigroup lowered their price objective on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Northcoast Research upgraded shares of GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 target price for the company in a research note on Wednesday, April 9th. Finally, Redburn Atlantic started coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $216.92.

Institutional Investors Weigh In On GE Aerospace

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of GE Aerospace during the fourth quarter worth $2,375,439,000. GAMMA Investing LLC lifted its stake in GE Aerospace by 23,611.7% during the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock worth $1,013,959,000 after acquiring an additional 5,044,632 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in GE Aerospace by 87.7% during the 4th quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock valued at $597,412,000 after acquiring an additional 1,673,365 shares during the period. Invesco Ltd. grew its position in GE Aerospace by 14.4% in the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock valued at $1,591,970,000 after acquiring an additional 1,204,910 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in GE Aerospace during the fourth quarter worth about $194,208,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Price Performance

The company's 50-day moving average price is $194.36 and its 200-day moving average price is $186.68. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The firm has a market cap of $213.10 billion, a price-to-earnings ratio of 33.15, a PEG ratio of 2.59 and a beta of 1.04.

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.