GE Aerospace (NYSE:GE) Given New $321.00 Price Target at UBS Group

GE Aerospace (NYSE:GE - Get Free Report) had its price objective boosted by UBS Group from $300.00 to $321.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. UBS Group's price target would suggest a potential upside of 20.47% from the company's current price.

A number of other analysts also recently commented on GE. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Royal Bank Of Canada raised their target price on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Friday. Wells Fargo & Company boosted their price target on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Finally, Citigroup reissued a "buy" rating and set a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, GE Aerospace has an average rating of "Moderate Buy" and a consensus price target of $240.33.

GE Aerospace Stock Performance

Shares of NYSE GE traded up $6.18 during mid-day trading on Friday, hitting $266.46. The company had a trading volume of 3,876,129 shares, compared to its average volume of 5,627,939. The stock has a market cap of $284.15 billion, a price-to-earnings ratio of 41.45, a PEG ratio of 3.19 and a beta of 1.37. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $272.80. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.08 and a quick ratio of 0.77. The firm's 50 day simple moving average is $243.40 and its two-hundred day simple moving average is $211.08.

GE Aerospace (NYSE:GE - Get Free Report) last announced 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 business had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. The business's revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the business posted $1.20 EPS. As a group, equities research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

Insiders Place Their Bets

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the sale, the senior vice president owned 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the company's stock in a transaction dated Thursday, April 24th. The stock was 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 directly owned 11,540 shares of the company's stock, valued at $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 Trading of GE Aerospace

Institutional investors have recently added to or reduced their stakes in the business. IMA Advisory Services Inc. purchased a new position in shares of GE Aerospace during the 1st quarter worth approximately $28,000. Copia Wealth Management lifted its stake in shares of GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after buying an additional 142 shares in the last quarter. New Age Alpha Advisors LLC lifted its stake in shares of GE Aerospace by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after buying an additional 84 shares in the last quarter. Nova Wealth Management Inc. bought a new stake in GE Aerospace in the 1st quarter valued at $29,000. Finally, Wealth Preservation Advisors LLC bought a new stake in GE Aerospace in the 1st quarter valued at $30,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

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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