GE Aerospace (NYSE:GE) Sets New 52-Week High - Time to Buy?

GE Aerospace (NYSE:GE - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $246.95 and last traded at $246.46, with a volume of 588677 shares changing hands. The stock had previously closed at $245.91.

Analyst Ratings Changes

A number of equities research analysts recently commented on GE shares. Citigroup dropped their price objective on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Royal Bank of Canada boosted their target price on GE Aerospace from $220.00 to $275.00 and gave the company an "outperform" rating in a research note on Tuesday. Redburn Atlantic assumed coverage on GE Aerospace in a research note on Tuesday, February 18th. They issued a "buy" rating and a $250.00 target price for the company. Wells Fargo & Company boosted their target price on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Finally, UBS Group boosted their target price on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, GE Aerospace presently has an average rating of "Moderate Buy" and a consensus target price of $221.15.

GE Aerospace Stock Up 0.6%

The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The company has a market capitalization of $265.41 billion, a price-to-earnings ratio of 41.55, a PEG ratio of 2.59 and a beta of 1.31. The firm has a 50-day moving average price of $206.00 and a two-hundred day moving average price of $194.27.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.20. The company had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. As a group, sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Insider Activity at GE Aerospace

In related news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the transaction, the vice president now directly 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 disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GE. Norges Bank bought a new stake in GE Aerospace in the fourth quarter valued at approximately $2,375,439,000. GQG Partners LLC bought a new stake in GE Aerospace in the first quarter valued at approximately $1,606,840,000. GAMMA Investing LLC raised its stake in GE Aerospace by 23,611.7% in the first quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock valued at $1,013,959,000 after buying an additional 5,044,632 shares during the period. Nuveen LLC bought a new stake in GE Aerospace in the first quarter valued at approximately $777,075,000. Finally, Amundi raised its stake in GE Aerospace by 124.0% in the first quarter. Amundi now owns 3,200,479 shares of the company's stock valued at $600,506,000 after buying an additional 1,771,944 shares during the period. 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.