GE Aerospace (NYSE:GE) Hits New 12-Month High Following Analyst Upgrade

Key Points

• GE Aerospace's share price reached a new 52-week high of $305.70 after Jefferies Financial Group raised the price target from $320.00 to $350.00, maintaining a buy rating on the stock.
• The company reported earnings of $1.66 per share, surpassing the consensus estimate of $1.43, with a year-over-year revenue increase of 21.2% to $10.15 billion.
• GE Aerospace announced a quarterly dividend of $0.36, reflecting a 0.5% yield and a payout ratio of 20.08%, scheduled for payment on October 27th.

GE Aerospace (NYSE:GE - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday after Jefferies Financial Group raised their price target on the stock from $320.00 to $350.00. Jefferies Financial Group currently has a buy rating on the stock. GE Aerospace traded as high as $305.70 and last traded at $305.37, with a volume of 320067 shares traded. The stock had previously closed at $301.02.

A number of other equities research analysts have also issued reports on the company. Wells Fargo & Company increased their price target on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Sanford C. Bernstein reissued an "outperform" rating on shares of GE Aerospace in a research note on Friday, August 15th. UBS Group upped their price objective on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Wall Street Zen downgraded shares of GE Aerospace from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, Barclays increased their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $241.92.

Hedge Funds Weigh In On GE Aerospace

A number of large investors have recently bought and sold shares of GE. Bare Financial Services Inc raised its holdings in GE Aerospace by 81.1% in the second quarter. Bare Financial Services Inc now owns 96 shares of the company's stock worth $25,000 after purchasing an additional 43 shares in the last quarter. Lavaca Capital LLC boosted its position in GE Aerospace by 1,666.7% in the second quarter. Lavaca Capital LLC now owns 106 shares of the company's stock valued at $27,000 after buying an additional 100 shares during the last quarter. Putney Financial Group LLC acquired a new stake in GE Aerospace during the 4th quarter worth about $28,000. IMA Advisory Services Inc. acquired a new position in shares of GE Aerospace in the 1st quarter valued at about $28,000. Finally, Copia Wealth Management boosted its position in GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after purchasing an additional 142 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Performance

The stock has a market capitalization of $323.25 billion, a PE ratio of 42.55, a price-to-earnings-growth ratio of 3.24 and a beta of 1.48. 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 firm's fifty day moving average price is $274.39 and its two-hundred day moving average price is $238.13.

GE Aerospace (NYSE:GE - Get Free Report) last posted its 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 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 revenue for the quarter was up 21.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, equities research analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace's payout ratio is presently 20.08%.

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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