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

Key Points

• GE Aerospace reached a new 52-week high, trading at $286.91, with an overall market capitalization of $300.17 billion.
• Brokerages have recently set new price targets for GE Aerospace, with UBS Group increasing its target to $321.00 and Citigroup to $296.00, while maintaining a "buy" rating.
• The company reported a quarterly EPS of $1.66, surpassing analyst estimates, and forecasted FY 2025 earnings per share guidance between $5.600 and $5.800.

GE Aerospace (NYSE:GE - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $286.91 and last traded at $283.55, with a volume of 478785 shares traded. The stock had previously closed at $283.41.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GE. Sanford C. Bernstein restated an "outperform" rating on shares of GE Aerospace in a research note on Friday, August 15th. UBS Group raised their target price on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Citigroup reissued a "buy" rating and issued a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Wall Street Zen lowered GE Aerospace from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Finally, Barclays lifted their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, GE Aerospace presently has an average rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Stock Down 0.1%

The company's 50 day moving average price is $267.93 and its 200 day moving average price is $232.56. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $300.17 billion, a price-to-earnings ratio of 39.50, a P/E/G ratio of 2.97 and a beta of 1.48.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The company had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. During the same quarter in the previous year, the firm posted $1.20 EPS. The firm's revenue was up 21.2% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, July 7th. GE Aerospace's payout ratio is presently 20.08%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of GE Aerospace by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 91,989,511 shares of the company's stock valued at $23,677,180,000 after purchasing an additional 1,482,069 shares during the period. State Street Corp raised its holdings in GE Aerospace by 1.4% in the 2nd quarter. State Street Corp now owns 44,268,912 shares of the company's stock worth $11,394,375,000 after purchasing an additional 613,866 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in GE Aerospace by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company's stock worth $5,030,028,000 after purchasing an additional 1,492,486 shares during the period. Geode Capital Management LLC raised its stake in shares of GE Aerospace by 3.1% during the 2nd quarter. Geode Capital Management LLC now owns 24,113,967 shares of the company's stock worth $6,181,956,000 after buying an additional 724,559 shares during the period. Finally, Norges Bank acquired a new position in shares of GE Aerospace during the 2nd quarter worth approximately $3,408,828,000. 74.77% of the stock is owned by institutional investors and hedge funds.

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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