GE Aerospace (NYSE:GE) Sets New 1-Year High Following Analyst Upgrade

GE Aerospace (NYSE:GE) shares hit a new 52-week high during trading on Tuesday after Jefferies Financial Group raised their price target on the stock from $320.00 to $350.00. Jefferies Financial Group currently has a buy rating on the stock. GE Aerospace traded as high as $305.70 and last traded at $305.37, with a volume of 320067 shares. The stock had previously closed at $301.02.

A number of other equities analysts also recently weighed in on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of GE Aerospace in a research note on Friday, August 15th. Citigroup reaffirmed a “buy” rating and set a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Wall Street Zen downgraded shares of GE Aerospace from a “buy” rating to a “hold” rating in a research note on Sunday. Wells Fargo & Company raised their target price on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Finally, Barclays raised their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $241.92.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Smartleaf Asset Management LLC boosted its stake in shares of GE Aerospace by 17.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company’s stock worth $1,647,000 after acquiring an additional 1,201 shares during the last quarter. Rainey & Randall Wealth Advisors Inc. purchased a new position in shares of GE Aerospace during the 1st quarter worth $203,000. Sendero Wealth Management LLC boosted its stake in shares of GE Aerospace by 526.6% during the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company’s stock worth $3,004,000 after acquiring an additional 12,613 shares during the last quarter. Concurrent Investment Advisors LLC boosted its stake in shares of GE Aerospace by 25.1% during the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company’s stock worth $8,065,000 after acquiring an additional 8,245 shares during the last quarter. Finally, Global Assets Advisory LLC boosted its stake in shares of GE Aerospace by 186.7% during the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company’s stock worth $2,751,000 after acquiring an additional 9,580 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Up 1.5%

The company’s 50 day moving average price is $275.21 and its two-hundred day moving average price is $238.60. The firm has a market cap of $323.97 billion, a PE ratio of 42.61, a PEG ratio of 3.24 and a beta of 1.48. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE) last released its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The company had revenue of $10.15 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the previous year, the company earned $1.20 EPS. GE Aerospace’s revenue for the quarter was up 21.2% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. On average, equities research analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be paid a dividend of $0.36 per share. The ex-dividend date is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace’s payout ratio is 20.08%.

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.