GE Aerospace (NYSE:GE) Given New $275.00 Price Target at Royal Bank of Canada

GE Aerospace (NYSE:GE) had its target price boosted by Royal Bank of Canada from $220.00 to $275.00 in a report released on Tuesday,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research firms have also recently issued reports on GE. Redburn Atlantic initiated coverage on GE Aerospace in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective for the company. UBS Group raised their price target on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Northcoast Research cut GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Citigroup dropped their price target on GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, Wells Fargo & Company raised their price target on GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.15.

GE Aerospace Trading Up 0.6%

NYSE:GE opened at $248.89 on Tuesday. The stock has a fifty day moving average price of $206.85 and a two-hundred day moving average price of $194.65. The stock has a market capitalization of $265.41 billion, a price-to-earnings ratio of 41.55, a PEG ratio of 2.59 and a beta of 1.38. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $250.50.

GE Aerospace (NYSE:GE) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.20. The firm had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. As a group, sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Insider Activity at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the firm’s stock in a transaction dated Tuesday, April 29th. The stock was 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 of the company’s stock, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the firm’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the sale, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. The trade was a 26.23% 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 Trading of GE Aerospace

A number of hedge funds have recently added to or reduced their stakes in the business. New Age Alpha Advisors LLC lifted its stake 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 valued at $25,000 after purchasing an additional 84 shares in the last quarter. Hager Investment Management Services LLC acquired a new position in GE Aerospace during the fourth quarter valued at approximately $27,000. Sumitomo Mitsui Financial Group Inc. purchased a new stake in GE Aerospace during the fourth quarter worth approximately $28,000. Putney Financial Group LLC purchased a new stake in GE Aerospace during the fourth quarter worth approximately $28,000. Finally, IMA Advisory Services Inc. purchased a new stake in GE Aerospace during the first quarter worth approximately $28,000. 74.77% of the stock is owned by institutional investors and hedge funds.

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.