GE Aerospace (NYSE:GE) Trading Up 1% - Still a Buy?

GE Aerospace (NYSE:GE - Get Free Report)'s share price traded up 1% on Wednesday . The company traded as high as $251.53 and last traded at $249.54. 1,487,614 shares were traded during trading, a decline of 73% from the average session volume of 5,507,578 shares. The stock had previously closed at $247.05.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Royal Bank Of Canada set a $275.00 target price on GE Aerospace and gave the stock an "outperform" rating in a research report on Tuesday, June 3rd. Citigroup decreased their price objective on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company raised their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Finally, UBS Group increased their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, GE Aerospace currently has an average rating of "Moderate Buy" and an average price target of $223.75.

GE Aerospace Trading Up 1.2%

The company's 50 day simple moving average is $238.22 and its 200-day simple moving average is $207.94. The firm has a market cap of $272.45 billion, a P/E ratio of 39.73, a P/E/G ratio of 3.02 and a beta of 1.37. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly 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. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. As a group, research analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.56%. GE Aerospace's dividend payout ratio (DPR) is 22.40%.

Insider Transactions at GE Aerospace

In other news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 8,805 shares of the company's stock, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the transaction, the vice president directly owned 11,540 shares in the company, valued at $2,270,264.20. The trade was a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GE Aerospace

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Brighton Jones LLC lifted its position in shares of GE Aerospace by 25.3% during the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock valued at $2,003,000 after buying an additional 2,421 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in GE Aerospace by 7.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock valued at $375,000 after acquiring an additional 150 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in GE Aerospace by 62.2% in the fourth quarter. Proficio Capital Partners LLC now owns 3,327 shares of the company's stock valued at $555,000 after acquiring an additional 1,276 shares in the last quarter. Moran Wealth Management LLC boosted its stake in GE Aerospace by 5.4% in the fourth quarter. Moran Wealth Management LLC now owns 1,360 shares of the company's stock valued at $227,000 after acquiring an additional 70 shares in the last quarter. Finally, Citizens Financial Group Inc. RI grew its holdings in GE Aerospace by 28.2% in the fourth quarter. Citizens Financial Group Inc. RI now owns 11,048 shares of the company's stock worth $1,843,000 after purchasing an additional 2,431 shares during the last quarter. 74.77% of the stock is currently owned by 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.