GE Aerospace (NYSE:GE) Reaches New 12-Month High - Here's What Happened

Shares of GE Aerospace (NYSE:GE - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $238.54 and last traded at $237.91, with a volume of 490286 shares traded. The stock had previously closed at $232.79.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GE. Royal Bank of Canada restated an "outperform" rating and issued a $220.00 price objective on shares of GE Aerospace in a research note on Wednesday, April 23rd. Redburn Atlantic began coverage on shares of GE Aerospace in a research note on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price objective for the company. Wells Fargo & Company boosted their price objective 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. Citigroup reduced their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, UBS Group boosted their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, GE Aerospace presently has a consensus rating of "Moderate Buy" and a consensus price target of $216.92.

GE Aerospace Trading Up 1.3%

The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The business has a 50-day simple moving average of $203.06 and a two-hundred day simple moving average of $192.40. The stock has a market cap of $261.11 billion, a price-to-earnings ratio of 40.88, a P/E/G ratio of 2.59 and a beta of 1.31.

GE Aerospace (NYSE:GE - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.20. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The business had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.06 billion. As a group, 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 business's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the transaction, the vice president now owns 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Mohamed Ali sold 1,602 shares of the business's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the sale, the senior vice president now owns 8,805 shares in the company, valued at approximately $1,766,899.35. This trade 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 Investors Weigh In On GE Aerospace

A number of institutional investors and hedge funds have recently bought and sold shares of GE. Advisors Capital Management LLC grew its stake in GE Aerospace by 49.8% in the 1st quarter. Advisors Capital Management LLC now owns 30,521 shares of the company's stock valued at $6,109,000 after purchasing an additional 10,145 shares during the period. Rollins Financial Advisors LLC purchased a new stake in GE Aerospace in the 1st quarter worth about $211,000. WBI Investments LLC purchased a new stake in GE Aerospace in the 1st quarter worth about $1,656,000. Geneos Wealth Management Inc. increased its holdings in GE Aerospace by 8.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 8,749 shares of the company's stock worth $1,751,000 after acquiring an additional 671 shares during the last quarter. Finally, Acorns Advisers LLC increased its holdings in GE Aerospace by 5.1% in the 1st quarter. Acorns Advisers LLC now owns 2,201 shares of the company's stock worth $441,000 after acquiring an additional 106 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other 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.