GE Aerospace (NYSE:GE) Hits New 1-Year High - What's Next?

GE Aerospace (NYSE:GE - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $236.08 and last traded at $234.93, with a volume of 4303966 shares traded. The stock had previously closed at $235.29.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of GE Aerospace from $190.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Wells Fargo & Company upped their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Royal Bank of Canada reiterated an "outperform" rating and set a $220.00 price target on shares of GE Aerospace in a report on Wednesday, April 23rd. Bank of America raised their price target on shares of GE Aerospace from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Finally, Redburn Atlantic started coverage on GE Aerospace in a research report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, GE Aerospace currently has a consensus rating of "Moderate Buy" and an average price target of $216.92.

GE Aerospace Stock Performance

The business has a 50-day simple moving average of $199.84 and a 200 day simple moving average of $190.46. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The firm has a market cap of $250.53 billion, a PE ratio of 39.22, a PEG ratio of 2.59 and a beta of 1.31.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.20. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. Equities research analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

Insiders Place Their Bets

In related news, VP Robert M. Giglietti sold 4,104 shares of the 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 now owns 11,540 shares in the company, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the transaction, the senior vice president now directly owns 8,805 shares in the company, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acorns Advisers LLC raised its position in shares of GE Aerospace by 5.1% during the first quarter. Acorns Advisers LLC now owns 2,201 shares of the company's stock valued at $441,000 after buying an additional 106 shares during the last quarter. Focus Partners Wealth grew its stake in GE Aerospace by 20.7% during the first quarter. Focus Partners Wealth now owns 152,957 shares of the company's stock valued at $30,615,000 after acquiring an additional 26,261 shares in the last quarter. Flaharty Asset Management LLC bought a new stake in GE Aerospace in the 1st quarter valued at $67,000. Integrity Alliance LLC. purchased a new stake in GE Aerospace in the 1st quarter worth $649,000. Finally, Ransom Advisory Ltd bought a new position in shares of GE Aerospace during the 1st quarter valued at about $87,000. 74.77% of the stock is currently owned by institutional investors.

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.

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