GE Aerospace (NYSE:GE) Hits New 12-Month High - What's Next?

Key Points

• GE Aerospace's stock recently hit a new 52-week high of $277.18 during trading, closing at $275.64 with significant volume of 750,150 shares.
• Analysts have upgraded GE Aerospace's stock, with Barclays raising its target price to $295.00 and UBS increasing it to $321.00, indicating a strong positive outlook.
• The company reported earnings of $1.66 per share for the last quarter, surpassing expectations and showing a 21.2% increase in revenue year-over-year.

GE Aerospace (NYSE:GE - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $277.18 and last traded at $275.64, with a volume of 750150 shares traded. The stock had previously closed at $272.02.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GE shares. Barclays upped their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. UBS Group increased their target price on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Citigroup reissued a "buy" rating and issued a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Finally, Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, GE Aerospace has an average rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Stock Performance

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 company has a market capitalization of $290.92 billion, a PE ratio of 38.30, a price-to-earnings-growth ratio of 2.93 and a beta of 1.44. The business's fifty day moving average is $254.73 and its two-hundred day moving average is $220.90.

GE Aerospace (NYSE:GE - Get Free Report) last posted its 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 net margin of 18.64% and a return on equity of 31.32%. The business had revenue of $10.15 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. Equities research analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is 20.08%.

Institutional Investors Weigh In On GE Aerospace

Several large investors have recently made changes to their positions in the company. Putney Financial Group LLC purchased a new stake in shares of GE Aerospace during the 4th quarter valued at about $28,000. IMA Advisory Services Inc. purchased a new stake in GE Aerospace in the 1st quarter worth about $28,000. Copia Wealth Management raised 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 during the period. Nova Wealth Management Inc. bought a new position in GE Aerospace in the 1st quarter worth about $29,000. Finally, IMG Wealth Management Inc. grew its stake in GE Aerospace by 113.5% in the 2nd quarter. IMG Wealth Management Inc. now owns 111 shares of the company's stock worth $29,000 after acquiring an additional 59 shares in the last quarter. 74.77% of the stock is 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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