GE Aerospace (NYSE:GE) Trading 0.8% Higher Following Analyst Upgrade

GE Aerospace (NYSE:GE)’s share price rose 0.8% during mid-day trading on Thursday after Wells Fargo & Company raised their price target on the stock from $212.00 to $222.00. Wells Fargo & Company currently has an overweight rating on the stock. GE Aerospace traded as high as $197.31 and last traded at $195.16. Approximately 1,638,173 shares changed hands during trading, a decline of 73% from the average daily volume of 5,983,101 shares. The stock had previously closed at $193.68.

A number of other analysts have also commented on GE. UBS Group upped their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday. Northcoast Research upgraded shares of 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. Citigroup lowered their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. JPMorgan Chase & Co. increased their target price on GE Aerospace from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $220.00 price target on shares of GE Aerospace in a report on Wednesday. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $216.92.

Hedge Funds Weigh In On GE Aerospace

A number of hedge funds have recently added to or reduced their stakes in the company. Johnson & White Wealth Management LLC acquired a new position in shares of GE Aerospace during the 4th quarter worth $733,000. Chung Wu Investment Group LLC bought a new stake in GE Aerospace in the fourth quarter worth $795,000. National Bank of Canada FI increased its position in GE Aerospace by 2.9% during the fourth quarter. National Bank of Canada FI now owns 1,064,417 shares of the company’s stock worth $177,535,000 after buying an additional 29,844 shares during the last quarter. World Investment Advisors LLC raised its holdings in GE Aerospace by 60.7% during the third quarter. World Investment Advisors LLC now owns 13,662 shares of the company’s stock valued at $2,576,000 after buying an additional 5,162 shares in the last quarter. Finally, National Pension Service lifted its position in shares of GE Aerospace by 1.7% in the fourth quarter. National Pension Service now owns 2,254,637 shares of the company’s stock worth $376,051,000 after buying an additional 37,884 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

GE Aerospace Stock Performance

The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The company has a market cap of $211.87 billion, a P/E ratio of 32.95, a P/E/G ratio of 2.59 and a beta of 1.04. The firm has a 50 day moving average price of $194.59 and a 200-day moving average price of $186.61.

GE Aerospace (NYSE:GE) last announced its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.20. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. The firm had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.06 billion. On average, research analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a $0.36 dividend. This is an increase from GE Aerospace’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Monday, March 10th. GE Aerospace’s dividend payout ratio (DPR) is currently 22.40%.

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.