GE Aerospace (NYSE:GE) Price Target Raised to $296.00

GE Aerospace (NYSE:GE - Get Free Report) had its target price hoisted by investment analysts at Citigroup from $227.00 to $296.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's target price suggests a potential upside of 13.54% from the stock's previous close.

GE has been the subject of several other reports. Wells Fargo & Company boosted their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Royal Bank Of Canada set a $275.00 target price on shares of GE Aerospace and gave the stock an "outperform" rating in a report on Tuesday, June 3rd. Finally, UBS Group increased their price target on 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 ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $229.50.

GE Aerospace Stock Performance

Shares of GE traded up $5.29 during mid-day trading on Monday, hitting $260.71. 3,422,099 shares of the company traded hands, compared to its average volume of 5,539,517. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. The stock has a 50-day moving average price of $239.17 and a two-hundred day moving average price of $209.03. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $260.82. The stock has a market cap of $278.01 billion, a price-to-earnings ratio of 40.55, a P/E/G ratio of 3.06 and a beta of 1.37.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.06 billion. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. Equities analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

Insider Transactions at GE Aerospace

In related news, VP Robert M. Giglietti sold 4,104 shares of the company's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the completion of the transaction, the vice president owned 11,540 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction dated Tuesday, April 29th. The shares were 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 owned 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 Trading of GE Aerospace

Several hedge funds have recently made changes to their positions in GE. New Age Alpha Advisors LLC increased its holdings in GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after purchasing an additional 84 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of GE Aerospace in the fourth quarter worth $28,000. Putney Financial Group LLC acquired a new position in shares of GE Aerospace in the fourth quarter worth $28,000. IMA Advisory Services Inc. acquired a new position in shares of GE Aerospace in the first quarter worth $28,000. Finally, Copia Wealth Management grew its stake in shares of GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after acquiring an additional 142 shares in the last quarter. Hedge funds and other 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.

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