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

Key Points

• GE Aerospace's stock achieved a new 52-week high at $272.83, reflecting significant trading volume and closing at $271.28.
• Several analysts upgraded their ratings on GE Aerospace, with UBS Group and Royal Bank Of Canada increasing their price targets significantly, indicating strong market confidence in the company's performance.
• The company reported earnings of $1.66 per share for the recent quarter, exceeding estimates, with a 21.2% increase in revenue year-over-year, demonstrating robust growth prospects.

GE Aerospace (NYSE:GE - Get Free Report) shares reached a new 52-week high on Saturday . The stock traded as high as $272.83 and last traded at $271.28, with a volume of 4597132 shares. The stock had previously closed at $268.01.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GE shares. Barclays increased their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada raised their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Finally, Citigroup restated a "buy" rating and issued a $296.00 price target (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, GE Aerospace currently has a consensus rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Price Performance

The stock has a market capitalization of $286.39 billion, a price-to-earnings ratio of 37.67, a PEG ratio of 3.11 and a beta of 1.37. The business's fifty day moving average price is $249.09 and its 200-day moving average price is $216.28. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share 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 business had revenue of $10.15 billion for the quarter, compared to analysts' expectations of $9.49 billion. During the same period in the previous year, the company earned $1.20 earnings per share. The firm's revenue for the quarter was up 21.2% compared to the same quarter last year. On average, research analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.53%. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC raised its position in GE Aerospace by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after acquiring an additional 84 shares during the period. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of GE Aerospace in the fourth quarter valued at approximately $28,000. Putney Financial Group LLC bought a new stake in shares of GE Aerospace in the fourth quarter valued at approximately $28,000. IMA Advisory Services Inc. bought a new stake in GE Aerospace during the 1st quarter worth approximately $28,000. Finally, Copia Wealth Management increased its holdings in GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after acquiring an additional 142 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

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.