GE Aerospace (NYSE:GE) Sees Significant Increase in Short Interest

Key Points

• GE Aerospace saw a significant increase in short interest in August, rising by 28.7% to a total of 15,130,000 shares by August 31st, equating to 1.4% of the company's shares short sold.
• The company reported earnings of $1.66 per share for the last quarter, exceeding analysts' expectations by $0.23, with revenue increasing by 21.2% year-over-year.
• Several analysts have raised their price targets for GE Aerospace, with UBS increasing its target to $321.00 and Citigroup to $296.00, while maintaining a general recommendation of "buy."

GE Aerospace (NYSE:GE - Get Free Report) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totaling 15,130,000 shares, an increase of 28.7% from the August 15th total of 11,760,000 shares. Based on an average daily volume of 5,940,000 shares, the days-to-cover ratio is currently 2.5 days. Approximately 1.4% of the shares of the company are short sold. Approximately 1.4% of the shares of the company are short sold. Based on an average daily volume of 5,940,000 shares, the days-to-cover ratio is currently 2.5 days.

Hedge Funds Weigh In On GE Aerospace

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bare Financial Services Inc increased its position in shares of GE Aerospace by 81.1% during the 2nd quarter. Bare Financial Services Inc now owns 96 shares of the company's stock worth $25,000 after purchasing an additional 43 shares during the last quarter. Lavaca Capital LLC increased its position in shares of GE Aerospace by 1,666.7% during the 2nd quarter. Lavaca Capital LLC now owns 106 shares of the company's stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Putney Financial Group LLC acquired a new position in shares of GE Aerospace during the 4th quarter worth approximately $28,000. IMA Advisory Services Inc. acquired a new position in shares of GE Aerospace during the 1st quarter worth approximately $28,000. Finally, Copia Wealth Management increased its position in shares of GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after purchasing an additional 142 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GE. Royal Bank Of Canada boosted their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Wells Fargo & Company lifted their target price on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of GE Aerospace in a research note on Friday, August 15th. Finally, Citigroup restated a "buy" rating and issued a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, GE Aerospace presently has an average rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Price Performance

Shares of GE stock traded up $4.53 during trading hours on Friday, hitting $301.62. 9,629,752 shares of the company's stock were exchanged, compared to its average volume of 3,951,953. The stock's 50-day moving average is $273.62 and its 200-day moving average is $236.86. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The stock has a market cap of $319.85 billion, a price-to-earnings ratio of 42.07, a price-to-earnings-growth ratio of 3.20 and a beta of 1.48. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $303.03.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. The company had revenue of $10.15 billion for the quarter, compared to analysts' expectations of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The business's revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, research analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be issued a dividend of $0.36 per share. The ex-dividend date is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is 20.08%.

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.