GE Aerospace (NYSE:GE) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• GE Aerospace has received a consensus recommendation of "Moderate Buy" from eleven ratings firms, with ten analysts issuing buy recommendations.
• The company reported a 21.2% increase in quarterly revenue year-over-year, exceeding analysts' expectations, with earnings per share at $1.66 compared to a consensus of $1.43.
• GE Aerospace's recent dividend announcement included a payment of $0.36 per share, marking an annualized yield of 0.5% and a payout ratio of 20.08%.

Shares of GE Aerospace (NYSE:GE - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eleven ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $232.9167.

GE has been the subject of several recent analyst reports. Royal Bank Of Canada raised their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Wells Fargo & Company increased their target price on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of GE Aerospace in a report on Friday. Finally, Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th.

GE Aerospace Trading Down 0.8%

Shares of NYSE:GE opened at $267.62 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The company's 50 day moving average is $257.44 and its two-hundred day moving average is $224.17. The company has a market cap of $283.79 billion, a PE ratio of 37.32, a P/E/G ratio of 2.90 and a beta of 1.44. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $281.50.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. The firm had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. GE Aerospace's quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.20 EPS. Equities 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 declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is 20.08%.

Hedge Funds Weigh In On GE Aerospace

Several hedge funds have recently made changes to their positions in the business. Rainey & Randall Wealth Advisors Inc. purchased a new position in GE Aerospace during the first quarter valued at approximately $203,000. Sendero Wealth Management LLC grew its position in GE Aerospace by 526.6% during 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 in the last quarter. Concurrent Investment Advisors LLC grew its position in GE Aerospace by 25.1% during the first quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock valued at $8,065,000 after purchasing an additional 8,245 shares in the last quarter. Global Assets Advisory LLC grew its position in GE Aerospace by 186.7% during the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock valued at $2,751,000 after purchasing an additional 9,580 shares in the last quarter. Finally, Leisure Capital Management acquired a new stake in GE Aerospace in the first quarter valued at approximately $222,000. Institutional investors and hedge funds own 74.77% of the company's stock.

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.

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