GE Aerospace (NYSE:GE) Shares Up 1.3% Following Analyst Upgrade

GE Aerospace (NYSE:GE - Get Free Report)'s stock price traded up 1.3% during mid-day trading on Wednesday after Royal Bank of Canada raised their price target on the stock from $220.00 to $275.00. Royal Bank of Canada currently has an outperform rating on the stock. GE Aerospace traded as high as $252.66 and last traded at $252.08. 1,620,206 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 5,799,178 shares. The stock had previously closed at $248.87.

Other equities research analysts also recently issued reports about the company. UBS Group upped their target price on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Wells Fargo & Company lifted their price target on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Citigroup reduced their price target on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Finally, Redburn Atlantic started coverage on GE Aerospace in a report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, GE Aerospace presently has a consensus rating of "Moderate Buy" and a consensus price target of $221.15.

Insider Activity at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the transaction, the senior vice president now directly owns 8,805 shares of the company's stock, valued at $1,766,899.35. The trade was a 15.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction that occurred on 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 now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Sendero Wealth Management LLC grew 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 purchasing an additional 12,613 shares in the last quarter. Chung Wu Investment Group LLC acquired a new stake in shares of GE Aerospace during the 4th quarter worth approximately $795,000. National Bank of Canada FI grew its holdings in shares of GE Aerospace by 2.9% during the 4th quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock worth $177,535,000 after purchasing an additional 29,844 shares in the last quarter. National Pension Service grew its holdings in shares of GE Aerospace by 1.7% during the 4th quarter. National Pension Service now owns 2,254,637 shares of the company's stock worth $376,051,000 after purchasing an additional 37,884 shares in the last quarter. Finally, FourThought Financial Partners LLC acquired a new stake in shares of GE Aerospace during the 4th quarter worth approximately $507,000. 74.77% of the stock is owned by institutional investors.

GE Aerospace Price Performance

The company has a fifty day moving average price of $207.88 and a two-hundred day moving average price of $195.04. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The company has a market cap of $268.44 billion, a price-to-earnings ratio of 42.03, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.29 by $0.20. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. As a group, equities research analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

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.