GE Aerospace (NYSE:GE) Lowered to Neutral Rating by Northcoast Research

Northcoast Research downgraded shares of GE Aerospace (NYSE:GE) from a buy rating to a neutral rating in a report released on Monday morning, Marketbeat reports.

A number of other equities analysts have also issued reports on the stock. Bank of America raised their target price on shares of GE Aerospace from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Wells Fargo & Company raised their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Citigroup lowered their target price 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. Royal Bank of Canada restated an “outperform” rating and set a $220.00 target price on shares of GE Aerospace in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of GE Aerospace from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $216.92.

GE Aerospace Price Performance

Shares of GE opened at $235.01 on Monday. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $235.87. The firm’s fifty day simple moving average is $198.98 and its 200-day simple moving average is $190.15. The firm has a market capitalization of $250.61 billion, a price-to-earnings ratio of 39.23, a PEG ratio of 2.59 and a beta of 1.31. 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 (NYSE:GE) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.20. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. Equities analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

Insider Buying and Selling

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the company’s stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the transaction, the vice president now directly owns 11,540 shares of the company’s stock, valued at $2,270,264.20. This represents a 26.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the sale, the senior vice president now directly owns 8,805 shares in the company, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On GE Aerospace

Hedge funds have recently modified their holdings of the stock. IMA Advisory Services Inc. purchased a new stake in shares of GE Aerospace during the 1st quarter worth about $28,000. Copia Wealth Management grew its holdings in GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company’s stock valued at $29,000 after buying an additional 142 shares during the last quarter. New Age Alpha Advisors LLC lifted its position in shares of GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock worth $25,000 after acquiring an additional 84 shares during the period. Wealth Preservation Advisors LLC bought a new stake in shares of GE Aerospace in the 1st quarter worth approximately $30,000. Finally, O Brien Wealth Partners LLC bought a new stake in shares of GE Aerospace in the 1st quarter worth approximately $33,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

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.