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

Shares of GE Aerospace (NYSE:GE - Get Free Report) shot up 1.3% during trading on Wednesday 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 $252.66 and last traded at $252.08. 1,620,206 shares were traded during trading, a decline of 72% from the average session volume of 5,799,178 shares. The stock had previously closed at $248.87.

GE has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft decreased their target price on GE Aerospace from $235.00 to $228.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. Northcoast Research upgraded shares of GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 price objective on the stock in a research report on Wednesday, April 9th. Redburn Atlantic assumed coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 target price on the stock. UBS Group upped their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Finally, Citigroup reduced their price target on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $221.15.

Insider Activity

In other news, SVP Mohamed Ali sold 1,602 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the sale, the senior vice president now owns 8,805 shares in the company, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 transaction of $807,379.92. Following the transaction, the vice president now directly owns 11,540 shares of the company's stock, 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. Corporate insiders own 0.21% of the company's stock.

Institutional Trading of GE Aerospace

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sendero Wealth Management LLC lifted its stake 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 last quarter. Chung Wu Investment Group LLC purchased a new stake in GE Aerospace in the fourth quarter worth $795,000. National Bank of Canada FI lifted its position in shares of GE Aerospace by 2.9% during the fourth 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 during the last quarter. National Pension Service lifted its position in shares of GE Aerospace by 1.7% during the fourth 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 during the last quarter. Finally, FourThought Financial Partners LLC purchased a new stake in shares of GE Aerospace during the fourth quarter valued at $507,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Trading Up 1.5%

The stock has a market capitalization of $272.69 billion, a P/E ratio of 42.69, a PEG ratio of 2.59 and a beta of 1.38. The stock's fifty day moving average price is $209.94 and its 200 day moving average price is $196.09. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

GE Aerospace (NYSE:GE - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.20. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. Research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

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.