GE Aerospace (NYSE:GE) Downgraded by Wall Street Zen to "Hold"

Key Points

• GE Aerospace has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, impacting investor sentiment toward the stock.
• Despite the downgrade, several analysts including Royal Bank of Canada and UBS Group raised their price targets, with an average target now at $232.92.
• GE Aerospace reported strong earnings, exceeding expectations with $1.66 EPS for the quarter and a 21.2% increase in revenue year-over-year.

GE Aerospace (NYSE:GE - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Sunday.

GE has been the subject of several other reports. Royal Bank Of Canada lifted their target price on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Barclays increased their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Sanford C. Bernstein reissued an "outperform" rating on shares of GE Aerospace in a research note on Friday, August 15th. Citigroup restated a "buy" rating and issued a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Finally, UBS Group lifted their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Price Performance

GE Aerospace stock traded up $4.53 during mid-day trading on Friday, hitting $301.62. 9,629,752 shares of the company were exchanged, compared to its average volume of 4,173,121. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The business's 50 day simple moving average is $273.62 and its two-hundred day simple moving average is $237.10. The company has a market capitalization of $319.85 billion, a P/E ratio of 42.07, a PEG ratio of 3.24 and a beta of 1.48. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $303.03.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.23. The firm had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The company's quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GE Aerospace

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Terril Brothers Inc. raised its stake in shares of GE Aerospace by 2.7% in the second quarter. Terril Brothers Inc. now owns 1,406 shares of the company's stock valued at $362,000 after buying an additional 37 shares during the period. New England Capital Financial Advisors LLC lifted its position in GE Aerospace by 5.0% during the second quarter. New England Capital Financial Advisors LLC now owns 772 shares of the company's stock valued at $199,000 after purchasing an additional 37 shares in the last quarter. Old North State Wealth Management LLC boosted its holdings in shares of GE Aerospace by 1.9% in the 2nd quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company's stock worth $542,000 after purchasing an additional 39 shares during the period. Stephens Consulting LLC raised its position in shares of GE Aerospace by 18.0% in the 2nd quarter. Stephens Consulting LLC now owns 256 shares of the company's stock worth $66,000 after acquiring an additional 39 shares in the last quarter. Finally, Francis Financial Inc. increased its holdings in shares of GE Aerospace by 3.3% in the second quarter. Francis Financial Inc. now owns 1,215 shares of the company's stock valued at $313,000 after purchasing an additional 39 shares during the period. Institutional investors own 74.77% of the company's stock.

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.