GE Aerospace (NYSE:GE) Shares Up 1.9% - What's Next?

Key Points

• GE Aerospace's share price increased by 1.9%, reaching a last trading price of $274.37, significantly below its average trading volume.
• Analysts have generally positive outlooks, with Citigroup and Barclays raising their price targets to $296.00 and $295.00 respectively, while most analysts recommend a "buy" rating.
• The company achieved $1.66 earnings per share for its last quarterly report, surpassing estimates and representing a 21.2% revenue increase year-over-year.

GE Aerospace (NYSE:GE - Get Free Report)'s stock price was up 1.9% during mid-day trading on Monday . The stock traded as high as $275.38 and last traded at $274.37. Approximately 770,030 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 6,161,255 shares. The stock had previously closed at $269.38.

Wall Street Analyst Weigh In

GE has been the subject of several analyst reports. Wells Fargo & Company increased their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. UBS Group lifted their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Royal Bank Of Canada upped their price target on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Barclays increased their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Stock Down 1.0%

The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The firm has a 50 day moving average of $254.17 and a two-hundred day moving average of $220.28. The stock has a market capitalization of $285.98 billion, a PE ratio of 37.60, a P/E/G ratio of 2.93 and a beta of 1.44.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The business had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The company's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.20 earnings per share. Equities research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's dividend payout ratio is currently 20.08%.

Institutional Investors Weigh In On GE Aerospace

A number of hedge funds and other institutional investors have recently bought and sold shares of GE. Rainey & Randall Wealth Advisors Inc. bought a new stake in shares of GE Aerospace in the 1st quarter valued at $203,000. Sendero Wealth Management LLC lifted its holdings in shares of GE Aerospace by 526.6% during the 1st 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 period. Concurrent Investment Advisors LLC lifted its stake in GE Aerospace by 25.1% in the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock valued at $8,065,000 after purchasing an additional 8,245 shares during the last quarter. Global Assets Advisory LLC increased its position in GE Aerospace by 186.7% in the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock valued at $2,751,000 after acquiring an additional 9,580 shares during the period. Finally, Leisure Capital Management acquired a new position in shares of GE Aerospace in the 1st quarter worth approximately $222,000. 74.77% of the stock is owned by institutional investors and hedge funds.

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.