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 share price shot up 1.9% during mid-day trading on Monday . The company traded as high as $275.38 and last traded at $274.37. 770,030 shares changed hands during trading, a decline of 88% from the average session volume of 6,161,255 shares. The stock had previously closed at $269.38.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Citigroup reissued a "buy" rating and set a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Barclays lifted their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Royal Bank Of Canada lifted their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, July 18th. Finally, UBS Group upped 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. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Stock Performance

The firm's fifty day simple moving average is $252.13 and its 200 day simple moving average is $218.91. The company has a market capitalization of $292.82 billion, a price-to-earnings ratio of 38.51, a PEG ratio of 2.90 and a beta of 1.44. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping 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 net margin of 18.64% and a return on equity of 31.32%. The firm's revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 earnings per share. On average, sell-side analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

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

Institutional Investors Weigh In On GE Aerospace

Hedge funds and other institutional investors have recently modified their holdings of the stock. Terril Brothers Inc. raised its holdings in shares of GE Aerospace by 2.7% in the second quarter. Terril Brothers Inc. now owns 1,406 shares of the company's stock valued at $362,000 after buying an additional 37 shares during the last quarter. Old North State Wealth Management LLC raised its holdings in shares of GE Aerospace by 1.9% in the second quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company's stock valued at $542,000 after buying an additional 39 shares during the last quarter. Stephens Consulting LLC raised its holdings in shares of GE Aerospace by 18.0% in the second quarter. Stephens Consulting LLC now owns 256 shares of the company's stock valued at $66,000 after buying an additional 39 shares during the last quarter. Webster Bank N. A. raised its holdings in shares of GE Aerospace by 2.1% in the second quarter. Webster Bank N. A. now owns 1,970 shares of the company's stock valued at $507,000 after buying an additional 41 shares during the last quarter. Finally, Pacific Sage Partners LLC raised its holdings in shares of GE Aerospace by 3.5% in 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. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Company Profile

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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