GE Aerospace (NYSE:GE) Rating Lowered to Neutral at Northcoast Research

GE Aerospace (NYSE:GE - Get Free Report) was downgraded by analysts at Northcoast Research from a "buy" rating to a "neutral" rating in a report released on Monday,Finviz reports.

A number of other research analysts also recently issued reports on the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $220.00 price target on shares of GE Aerospace in a report on Wednesday, April 23rd. Wells Fargo & Company raised their price objective on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Bank of America boosted their target price on GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. UBS Group boosted their target price on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Finally, Citigroup dropped their target price 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. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $216.92.

GE Aerospace Trading Up 1.1%

Shares of NYSE:GE opened at $231.86 on Monday. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $232.32. The business's fifty day simple moving average is $198.19 and its 200-day simple moving average is $189.71. The company has a market capitalization of $247.25 billion, a PE ratio of 38.71, a P/E/G ratio of 2.59 and a beta of 1.31. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.20. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. As a group, equities research analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following the transaction, the vice president now owns 11,540 shares of the company's stock, valued at $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 value of $321,473.34. Following the transaction, the senior vice president now directly owns 8,805 shares in the company, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

Institutional Investors Weigh In On GE Aerospace

A number of hedge funds have recently added to or reduced their stakes in the company. Woodline Partners LP lifted its position in shares of GE Aerospace by 12.7% during the 1st quarter. Woodline Partners LP now owns 60,726 shares of the company's stock valued at $12,154,000 after acquiring an additional 6,825 shares during the period. Zurich Insurance Group Ltd FI grew its stake in shares of GE Aerospace by 70.9% during the 1st quarter. Zurich Insurance Group Ltd FI now owns 544,530 shares of the company's stock valued at $108,988,000 after buying an additional 225,855 shares during the period. American Trust purchased a new stake in shares of GE Aerospace during the 1st quarter valued at $229,000. McIlrath & Eck LLC lifted its holdings in shares of GE Aerospace by 8.5% during the 1st quarter. McIlrath & Eck LLC now owns 1,011 shares of the company's stock valued at $202,000 after acquiring an additional 79 shares in the last quarter. Finally, Logan Capital Management Inc. lifted its holdings in shares of GE Aerospace by 558.8% during the 1st quarter. Logan Capital Management Inc. now owns 27,246 shares of the company's stock valued at $5,453,000 after acquiring an additional 23,110 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

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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