GE Aerospace (NYSE:GE) Sets New 52-Week High - Here's Why

Key Points

• GE Aerospace shares reached a new **52-week high** of **$274.94**, marking significant trading volume at **4,519,615** shares, while the stock last traded at **$270.90**.
• Multiple analysts have issued **upgrades** on GE Aerospace, with UBS raising the price target from **$300** to **$321**, and Citigroup increasing theirs from **$227** to **$296** while maintaining a **buy rating**.
• The company recently announced a **quarterly dividend** of **$0.36**, resulting in an annual yield of **0.5%**, with a payout ratio of **20.08%**.

GE Aerospace (NYSE:GE - Get Free Report) shares reached a new 52-week high during trading on Friday . The stock traded as high as $274.94 and last traded at $270.90, with a volume of 4519615 shares trading hands. The stock had previously closed at $273.55.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. UBS Group raised their price target on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. Citigroup reissued a "buy" rating and issued a $296.00 price target (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Barclays boosted their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada raised their price target on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Finally, Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Stock Performance

The company has a market capitalization of $285.78 billion, a price-to-earnings ratio of 37.59, a PEG ratio of 2.90 and a beta of 1.44. The stock has a fifty day moving average price of $252.13 and a two-hundred day moving average price of $218.37. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The business had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The business's revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 earnings per share. As a group, analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio is currently 20.08%.

Institutional Investors Weigh In On GE Aerospace

A number of hedge funds and other institutional investors have recently made changes to their positions in GE. Old North State Wealth Management LLC grew its position in GE Aerospace by 1.9% during the second quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company's stock valued at $542,000 after acquiring an additional 39 shares during the period. Stephens Consulting LLC lifted its stake in shares of GE Aerospace by 18.0% during the second quarter. Stephens Consulting LLC now owns 256 shares of the company's stock worth $66,000 after purchasing an additional 39 shares in the last quarter. Webster Bank N. A. lifted its stake in shares of GE Aerospace by 2.1% during the second quarter. Webster Bank N. A. now owns 1,970 shares of the company's stock worth $507,000 after purchasing an additional 41 shares in the last quarter. Pacific Sage Partners LLC lifted its stake in shares of GE Aerospace by 3.5% in the second quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company's stock worth $314,000 after acquiring an additional 41 shares in the last quarter. Finally, Ascent Capital Management LLC lifted its stake in shares of GE Aerospace by 1.9% in the second quarter. Ascent Capital Management LLC now owns 2,273 shares of the company's stock worth $585,000 after acquiring an additional 42 shares in the last quarter. Hedge funds and other institutional investors 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.