Royal Bank of Canada Raises GE Aerospace (NYSE:GE) Price Target to $275.00

GE Aerospace (NYSE:GE - Get Free Report) had its target price boosted by Royal Bank of Canada from $220.00 to $275.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank of Canada's price objective would indicate a potential upside of 9.24% from the stock's previous close.

Several other research firms have also recently commented on GE. UBS Group increased their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. 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 dropped their price target on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Redburn Atlantic initiated coverage on GE Aerospace in a report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price objective for the company. Finally, Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, GE Aerospace currently has an average rating of "Moderate Buy" and a consensus target price of $221.15.

GE Aerospace Stock Performance

GE stock traded up $0.85 on Tuesday, reaching $251.73. The company's stock had a trading volume of 4,139,400 shares, compared to its average volume of 5,827,653. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $253.06. The company has a market capitalization of $268.44 billion, a P/E ratio of 42.03, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. The firm has a fifty day moving average of $207.88 and a two-hundred day moving average of $195.04. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

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, topping the consensus estimate of $1.29 by $0.20. The firm 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%. As a group, analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal 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 shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the sale, the vice president now directly owns 11,540 shares of the company's stock, valued at $2,270,264.20. This represents a 26.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the sale, the senior vice president now directly owns 8,805 shares of the company's stock, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Truvestments Capital LLC lifted its position in shares of GE Aerospace by 19.5% during the first quarter. Truvestments Capital LLC now owns 282 shares of the company's stock worth $56,000 after purchasing an additional 46 shares during the last quarter. Sfmg LLC increased its stake in GE Aerospace by 2.4% in the 1st quarter. Sfmg LLC now owns 2,088 shares of the company's stock worth $418,000 after buying an additional 48 shares during the period. SGL Investment Advisors Inc. lifted its holdings in GE Aerospace by 3.6% during the 1st quarter. SGL Investment Advisors Inc. now owns 1,413 shares of the company's stock valued at $303,000 after buying an additional 49 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its holdings in GE Aerospace by 17.6% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company's stock valued at $56,000 after buying an additional 50 shares in the last quarter. Finally, Hudock Inc. boosted its position in GE Aerospace by 1.8% in the 1st quarter. Hudock Inc. now owns 2,905 shares of the company's stock valued at $582,000 after buying an additional 50 shares during the period. Institutional investors own 74.77% of the company's stock.

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.