GE Aerospace (NYSE:GE) Shares Up 1.8% on Analyst Upgrade

GE Aerospace (NYSE:GE - Get Free Report)'s stock price traded up 1.8% on Monday after Citigroup raised their price target on the stock from $227.00 to $296.00. Citigroup currently has a buy rating on the stock. GE Aerospace traded as high as $259.90 and last traded at $260.10. 1,758,848 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 5,533,470 shares. The stock had previously closed at $255.42.

A number of other brokerages have also issued reports on GE. Wells Fargo & Company upped their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Royal Bank Of Canada set a $275.00 target price on shares of GE Aerospace and gave the company an "outperform" rating in a research note on Tuesday, June 3rd. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note 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 stock a "buy" rating in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $229.50.

Insider Buying and Selling at GE Aerospace

In related news, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction 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 transaction, the vice president directly owned 11,540 shares in the company, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Mohamed Ali sold 1,602 shares of the 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 completion of the sale, the senior vice president directly owned 8,805 shares of the company's stock, valued at approximately $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. Corporate insiders own 0.21% of the company's stock.

Hedge Funds Weigh In On GE Aerospace

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Sendero Wealth Management LLC raised its stake in shares of 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 acquiring an additional 12,613 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of 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 acquiring an additional 8,245 shares during the last quarter. National Bank of Canada FI raised its stake 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 worth $177,535,000 after acquiring an additional 29,844 shares during the last quarter. Global Assets Advisory LLC raised its stake in shares of 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 acquiring an additional 9,580 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of GE Aerospace by 14.4% in the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after acquiring an additional 1,204,910 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

GE Aerospace Stock Performance

The firm's 50-day moving average price is $239.17 and its 200 day moving average price is $209.03. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. The company has a market cap of $278.49 billion, a price-to-earnings ratio of 40.61, a PEG ratio of 3.06 and a beta of 1.37.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.20. The company had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.06 billion. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. On average, sell-side analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.55%. GE Aerospace's dividend payout ratio is presently 22.40%.

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.

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