GE Aerospace (NYSE:GE) Reaches New 52-Week High Following Strong Earnings

Shares of GE Aerospace (NYSE:GE) hit a new 52-week high during mid-day trading on Tuesday following a stronger than expected earnings report. The company traded as high as $316.06 and last traded at $309.82, with a volume of 978173 shares. The stock had previously closed at $302.68.

The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.20. The business had revenue of $11.31 billion during the quarter, compared to the consensus estimate of $10.29 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.15 earnings per share. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS.

GE Aerospace Announces Dividend

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

Analysts Set New Price Targets

GE has been the subject of several recent research reports. Sanford C. Bernstein boosted their price objective on GE Aerospace from $343.00 to $374.00 and gave the company an “outperform” rating in a report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $350.00 price objective on shares of GE Aerospace in a report on Wednesday, October 8th. Wolfe Research boosted their price objective on GE Aerospace from $280.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Barclays boosted their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen cut GE Aerospace from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Fifteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $281.27.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Arrow Financial Corp boosted its position in GE Aerospace by 1.9% in the third quarter. Arrow Financial Corp now owns 3,179 shares of the company’s stock worth $956,000 after purchasing an additional 60 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its position in GE Aerospace by 7.3% in the third quarter. Fifth Third Wealth Advisors LLC now owns 34,927 shares of the company’s stock worth $10,507,000 after purchasing an additional 2,378 shares during the last quarter. Penobscot Investment Management Company Inc. boosted its position in GE Aerospace by 35.3% in the third quarter. Penobscot Investment Management Company Inc. now owns 11,259 shares of the company’s stock worth $3,387,000 after purchasing an additional 2,936 shares during the last quarter. Western Financial Corp CA boosted its position in GE Aerospace by 8.4% in the third quarter. Western Financial Corp CA now owns 20,036 shares of the company’s stock worth $6,027,000 after purchasing an additional 1,554 shares during the last quarter. Finally, Moss Adams Wealth Advisors LLC boosted its position in GE Aerospace by 2.8% in the third quarter. Moss Adams Wealth Advisors LLC now owns 3,083 shares of the company’s stock worth $929,000 after purchasing an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Performance

The company has a 50-day simple moving average of $287.16 and a two-hundred day simple moving average of $252.55. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The firm has a market cap of $324.99 billion, a PE ratio of 42.74, a PEG ratio of 3.26 and a beta of 1.49.

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.