GE Aerospace (NYSE:GE) Trading 1.2% Higher - Here's What Happened

Shares of GE Aerospace (NYSE:GE - Get Free Report) traded up 1.2% during trading on Monday . The stock traded as high as $219.98 and last traded at $217.56. 1,625,339 shares changed hands during trading, a decline of 70% from the average session volume of 5,343,360 shares. The stock had previously closed at $214.96.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wells Fargo & Company increased 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. Redburn Atlantic assumed coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $220.00 target price on shares of GE Aerospace in a report on Wednesday, April 23rd. JPMorgan Chase & Co. raised their price target on shares of GE Aerospace from $190.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Finally, Northcoast Research upgraded shares of GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 price target on the stock in a research report on Wednesday, April 9th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $216.92.

GE Aerospace Stock Performance

The company has a market cap of $247.25 billion, a PE ratio of 38.71, a P/E/G ratio of 2.59 and a beta of 1.31. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The firm's 50-day simple moving average is $198.19 and its two-hundred day simple moving average is $189.48.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.29 by $0.20. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. As a group, research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the sale, the vice president now directly owns 11,540 shares of the company's stock, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction on Tuesday, April 29th. The stock was 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 in the company, valued at $1,766,899.35. This trade represents a 15.39% 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.

Hedge Funds Weigh In On GE Aerospace

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Chung Wu Investment Group LLC purchased a new position in GE Aerospace during the fourth quarter valued at $795,000. National Bank of Canada FI raised its position in shares of GE Aerospace by 2.9% in the fourth quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock valued at $177,535,000 after buying an additional 29,844 shares during the last quarter. National Pension Service raised its position in shares of GE Aerospace by 1.7% in the fourth quarter. National Pension Service now owns 2,254,637 shares of the company's stock valued at $376,051,000 after buying an additional 37,884 shares during the last quarter. Sanibel Captiva Trust Company Inc. raised its position in shares of GE Aerospace by 28.4% in the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 25,808 shares of the company's stock valued at $4,305,000 after buying an additional 5,710 shares during the last quarter. Finally, FourThought Financial Partners LLC acquired a new stake in shares of GE Aerospace in the fourth quarter valued at about $507,000. 74.77% of the stock is 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.