GE Aerospace (NYSE:GE) Trading Up 1.8% Following Analyst Upgrade

GE Aerospace (NYSE:GE) shares shot up 1.8% during mid-day trading on Monday after Citigroup raised their price target on the stock from $227.00 to $296.00. Citigroup currently has a buy rating on the stock. GE Aerospace traded as high as $259.90 and last traded at $260.10. 1,758,848 shares were traded during trading, a decline of 68% from the average session volume of 5,533,470 shares. The stock had previously closed at $255.42.

Other equities analysts have also recently issued research reports about the stock. UBS Group lifted their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Northcoast Research cut shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Wells Fargo & Company lifted 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. Finally, Royal Bank Of Canada set a $275.00 target price on shares of GE Aerospace and gave the stock an “outperform” rating in a research report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.50.

Insider Buying and Selling

In other news, SVP Mohamed Ali sold 1,602 shares of the business’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 completion of the transaction, the senior vice president owned 8,805 shares of the company’s stock, valued at $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the business’s stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the completion of the sale, the vice president owned 11,540 shares of the company’s stock, 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. Insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On GE Aerospace

Institutional investors have recently bought and sold shares of the business. Sendero Wealth Management LLC boosted its stake in shares of GE Aerospace by 526.6% in the first quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company’s stock valued at $3,004,000 after purchasing an additional 12,613 shares during the period. Rainey & Randall Wealth Advisors Inc. acquired a new stake in GE Aerospace in the first quarter valued at $203,000. Concurrent Investment Advisors LLC raised its holdings in shares of GE Aerospace by 25.1% during the first quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company’s stock worth $8,065,000 after purchasing an additional 8,245 shares during the period. National Bank of Canada FI raised its holdings in shares of 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 purchasing an additional 29,844 shares during the period. Finally, Global Assets Advisory LLC raised its holdings in shares of GE Aerospace by 186.7% during the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company’s stock worth $2,751,000 after purchasing an additional 9,580 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Stock Up 2.7%

The company has a market capitalization of $279.72 billion, a price-to-earnings ratio of 40.79, a PEG ratio of 3.06 and a beta of 1.37. The stock’s fifty day simple moving average is $240.24 and its two-hundred day simple moving average is $209.68. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.08 and a quick ratio of 0.77.

GE Aerospace (NYSE:GE) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.20. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The business had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.06 billion. On average, sell-side analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.55%. GE Aerospace’s dividend payout ratio is presently 22.40%.

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.