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

GE Aerospace (NYSE:GE - Get Free Report) rose 1.8% during trading on Monday after Wells Fargo & Company raised their price target on the stock from $212.00 to $222.00. Wells Fargo & Company currently has an overweight rating on the stock. GE Aerospace traded as high as $259.90 and last traded at $260.10. Approximately 1,758,848 shares traded hands during trading, a decline of 68% from the average daily volume of 5,533,470 shares. The stock had previously closed at $255.42.

A number of other research analysts have also recently commented on the stock. Royal Bank Of Canada reiterated an "outperform" rating and set a $220.00 price target on shares of GE Aerospace in a research report on Wednesday, April 23rd. Northcoast Research upgraded shares of GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 target price on the stock in a research report on Wednesday, April 9th. Bank of America upped their price target on shares of GE Aerospace from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Monday, January 27th. JPMorgan Chase & Co. raised their price objective on GE Aerospace from $190.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Finally, UBS Group boosted their target price on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $229.50.

Insider Activity at GE Aerospace

In other news, SVP Mohamed Ali sold 1,602 shares of the firm's 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 completion of the transaction, the senior vice president directly owned 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction dated Thursday, April 24th. The stock was 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 directly owned 11,540 shares of the company's stock, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Institutional Trading of GE Aerospace

A number of institutional investors and hedge funds have recently bought and sold shares of GE. Old North State Wealth Management LLC boosted its stake in GE Aerospace by 1.9% during the 2nd quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company's stock valued at $542,000 after purchasing an additional 39 shares during the last quarter. Webster Bank N. A. lifted its holdings in shares of GE Aerospace by 2.1% during the second quarter. Webster Bank N. A. now owns 1,970 shares of the company's stock valued at $507,000 after purchasing an additional 41 shares in the last quarter. Pacific Sage Partners LLC boosted its position in shares of GE Aerospace by 3.5% during the second quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company's stock valued at $314,000 after buying an additional 41 shares during the last quarter. Ascent Capital Management LLC increased its holdings in GE Aerospace by 1.9% in the 2nd quarter. Ascent Capital Management LLC now owns 2,273 shares of the company's stock worth $585,000 after buying an additional 42 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. raised its position in GE Aerospace by 1.1% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 4,046 shares of the company's stock worth $810,000 after buying an additional 43 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Stock Down 2.2%

The company's 50 day simple moving average is $242.49 and its 200-day simple moving average is $210.45. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90. The firm has a market cap of $277.50 billion, a P/E ratio of 40.47, a PEG ratio of 3.17 and a beta of 1.37.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The company had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the firm earned $1.20 earnings per share. The firm's revenue for the quarter was up 21.2% compared to the same quarter last year. Research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.55%. GE Aerospace's dividend payout ratio (DPR) 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.