GE Aerospace (NYSE:GE) Sets New 12-Month High - Here's What Happened

GE Aerospace (NYSE:GE - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $227.45 and last traded at $226.13, with a volume of 1234717 shares traded. The stock had previously closed at $223.24.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Northcoast Research raised GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 price target for the company in a report on Wednesday, April 9th. Bank of America boosted their price target on shares of GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Redburn Atlantic began coverage on GE Aerospace in a report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price objective for the company. Citigroup reduced their target price on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, UBS Group boosted their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $216.92.

GE Aerospace Stock Up 2.9%

The company has a market cap of $244.86 billion, a price-to-earnings ratio of 38.33, a price-to-earnings-growth 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. The business has a 50-day simple moving average of $196.64 and a 200-day simple moving average of $188.71.

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

GE Aerospace Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, March 10th were given a dividend of $0.36 per share. This is a boost from GE Aerospace's previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Monday, March 10th. GE Aerospace's payout ratio is presently 22.40%.

Insider Buying and Selling

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the sale, the senior vice president now directly owns 8,805 shares of the company's stock, valued at $1,766,899.35. The trade was a 15.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the firm's 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 completion of the transaction, the vice president now directly owns 11,540 shares in the company, valued at $2,270,264.20. The trade was 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

Hedge funds have recently modified their holdings of the business. IMA Advisory Services Inc. bought a new position in shares of GE Aerospace during the 1st quarter worth approximately $28,000. Copia Wealth Management grew its holdings in shares of GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after purchasing an additional 142 shares during the last quarter. New Age Alpha Advisors LLC grew its stake in shares of 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 purchasing an additional 84 shares during the last quarter. Wealth Preservation Advisors LLC acquired a new position in shares of GE Aerospace in the first quarter worth approximately $30,000. Finally, O Brien Wealth Partners LLC acquired a new position in GE Aerospace in the first quarter valued at $33,000. Institutional investors own 74.77% of the company's stock.

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.

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