GE Aerospace (NYSE:GE) Reaches New 52-Week High - What's Next?

Key Points

• GE Aerospace shares reached a new 52-week high of $281.50 and closed at $269.09, with significant trading volume of 7,591,990 shares.
• A variety of analysts have provided mixed ratings, with Citigroup raising its price target to $296 while Northcoast Research downgraded the stock to "neutral".
• The company reported a strong earnings performance, exceeding estimates with a $1.66 earnings per share and $10.15 billion in revenue for the quarter, which is a 21.2% increase year-over-year.

Shares of GE Aerospace (NYSE:GE - Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as $281.50 and last traded at $269.09, with a volume of 7591990 shares. The stock had previously closed at $279.63.

Analysts Set New Price Targets

Several research firms have weighed in on GE. UBS Group lifted their target price on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Citigroup reiterated a "buy" rating and set a $296.00 target price (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Royal Bank Of Canada lifted their target price on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Finally, Barclays boosted their price target on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Stock Performance

The company's 50-day simple moving average is $257.44 and its 200 day simple moving average is $224.17. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The stock has a market cap of $283.79 billion, a P/E ratio of 37.32, a PEG ratio of 2.90 and a beta of 1.44.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The company had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the business posted $1.20 EPS. GE Aerospace's quarterly revenue was up 21.2% compared to the same quarter last year. As a group, sell-side analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace's payout ratio is 20.08%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Rainey & Randall Wealth Advisors Inc. bought a new stake in shares of GE Aerospace during the 1st quarter worth $203,000. Sendero Wealth Management LLC lifted its stake in GE Aerospace by 526.6% in the first quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock worth $3,004,000 after purchasing an additional 12,613 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in GE Aerospace by 25.1% in the first quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock worth $8,065,000 after purchasing an additional 8,245 shares during the last quarter. Global Assets Advisory LLC lifted its stake in GE Aerospace by 186.7% in the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock worth $2,751,000 after purchasing an additional 9,580 shares during the last quarter. Finally, Leisure Capital Management bought a new stake in GE Aerospace in the first quarter worth $222,000. 74.77% of the stock is owned by 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.