GE Aerospace (NYSE:GE) Stock Price Up 1.5% Following Analyst Upgrade

Key Points

• GE Aerospace's stock price increased by 1.5% after Jefferies Financial Group raised its price target from $320.00 to $350.00, maintaining a buy rating for the stock.
• The company recently reported quarterly earnings of $1.66 per share, exceeding estimates, with revenue reaching $10.15 billion, a 21.2% year-over-year increase.
• GE Aerospace announced a quarterly dividend of $0.36 per share, with a dividend yield of 0.5%, set to be paid on October 27th.

GE Aerospace (NYSE:GE - Get Free Report)'s share price traded up 1.5% during mid-day trading on Tuesday after Jefferies Financial Group raised their price target on the stock from $320.00 to $350.00. Jefferies Financial Group currently has a buy rating on the stock. GE Aerospace traded as high as $305.78 and last traded at $305.50. 3,618,009 shares changed hands during trading, a decline of 38% from the average session volume of 5,811,105 shares. The stock had previously closed at $301.02.

A number of other equities analysts also recently weighed in on GE. Sanford C. Bernstein reiterated an "outperform" rating on shares of GE Aerospace in a report on Friday, August 15th. 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. Barclays upped their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Wall Street Zen cut GE Aerospace from a "buy" rating to a "hold" rating in a research report on Sunday. Finally, UBS Group upped their target price on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $241.92.

Hedge Funds Weigh In On GE Aerospace

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its position in GE Aerospace by 25.3% in the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock valued at $2,003,000 after buying an additional 2,421 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in shares of GE Aerospace by 7.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock worth $375,000 after buying an additional 150 shares during the last quarter. State of Wyoming lifted its position in shares of GE Aerospace by 28.3% during the 4th quarter. State of Wyoming now owns 721 shares of the company's stock worth $120,000 after buying an additional 159 shares during the last quarter. Vermillion Wealth Management Inc. bought a new stake in shares of GE Aerospace during the 4th quarter worth $114,000. Finally, Putney Financial Group LLC acquired a new position in GE Aerospace in the 4th quarter worth about $28,000. Institutional investors own 74.77% of the company's stock.

GE Aerospace Trading Up 1.5%

The business has a fifty day simple moving average of $274.39 and a 200-day simple moving average of $238.13. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The firm has a market cap of $323.97 billion, a price-to-earnings ratio of 42.61, a PEG ratio of 3.24 and a beta of 1.48.

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

GE Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace's dividend payout ratio is presently 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.

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