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

GE Aerospace (NYSE:GE - Get Free Report)'s share price hit a new 52-week high during trading on Friday . The company traded as high as $216.80 and last traded at $214.64, with a volume of 5866207 shares. The stock had previously closed at $209.92.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. UBS Group raised their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Bank of America lifted their price target on shares of GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Wells Fargo & Company increased their price objective on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Redburn Atlantic began coverage on GE Aerospace in a research note on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price target on GE Aerospace from $190.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $216.92.

GE Aerospace Stock Performance

The firm's 50 day simple moving average is $195.24 and its 200 day simple moving average is $187.87. The firm has a market capitalization of $229.09 billion, a price-to-earnings ratio of 35.86, a PEG ratio of 2.59 and a beta of 1.31. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

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 for the quarter, topping the consensus estimate of $1.29 by $0.20. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. Sell-side analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, March 10th were issued a $0.36 dividend. This is a boost from GE Aerospace's previous quarterly dividend of $0.28. The ex-dividend date was Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.67%. GE Aerospace's payout ratio is presently 22.40%.

Insider Transactions at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value 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 $1,766,899.35. This trade represents a 15.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 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 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 added to or reduced their stakes in the business. New Age Alpha Advisors LLC increased its position in shares of GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after acquiring an additional 84 shares during the last quarter. Hager Investment Management Services LLC purchased a new stake in shares of GE Aerospace in the 4th quarter valued at $27,000. Sumitomo Mitsui Financial Group Inc. acquired a new position in GE Aerospace during the 4th quarter worth about $28,000. Putney Financial Group LLC purchased a new position in GE Aerospace during the 4th quarter valued at about $28,000. Finally, IMA Advisory Services Inc. acquired a new position in GE Aerospace in the 1st quarter valued at about $28,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

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.