GE Aerospace (NYSE:GE) Shares Up 1.5% - Here's Why

Key Points

• GE Aerospace's stock price increased by 1.5% on Tuesday, reaching a high of $278.38 before settling at $279.42, despite a significant reduction in trading volume.
• Analysts have raised their price targets for GE Aerospace, with Barclays and Royal Bank of Canada now projecting price targets of $295.00 and $300.00 respectively, reflecting positive sentiment towards the company's performance.
• GE Aerospace reported notable financial results with earnings per share of $1.66 for the last quarter, exceeding expectations of $1.43 and showing a 21.2% increase in quarterly revenue year-over-year.

Shares of GE Aerospace (NYSE:GE - Get Free Report) traded up 1.5% on Tuesday . The company traded as high as $278.38 and last traded at $279.42. 940,499 shares were traded during trading, a decline of 84% from the average session volume of 6,066,649 shares. The stock had previously closed at $275.20.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Citigroup reiterated a "buy" rating and set a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Wells Fargo & Company upped their target price on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. UBS Group upped their price target on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Finally, Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $232.92.

GE Aerospace Price Performance

The firm has a market capitalization of $286.17 billion, a P/E ratio of 37.64, a PEG ratio of 2.89 and a beta of 1.44. 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 50-day moving average of $257.20 and a 200-day moving average of $223.67.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.23. The business 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 firm's quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.20 EPS. As a group, analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

Hedge Funds Weigh In On GE Aerospace

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Terril Brothers Inc. lifted its holdings in shares of GE Aerospace by 2.7% during the 2nd 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 period. New England Capital Financial Advisors LLC lifted its holdings in shares of GE Aerospace by 5.0% during the 2nd quarter. New England Capital Financial Advisors LLC now owns 772 shares of the company's stock valued at $199,000 after buying an additional 37 shares during the period. Old North State Wealth Management LLC lifted its holdings in shares of GE Aerospace by 1.9% during the 2nd 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 period. Stephens Consulting LLC lifted its holdings in shares of GE Aerospace by 18.0% during the 2nd 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 period. Finally, Francis Financial Inc. lifted its holdings in shares of GE Aerospace by 3.3% during the 2nd quarter. Francis Financial Inc. now owns 1,215 shares of the company's stock valued at $313,000 after buying an additional 39 shares during the period. 74.77% of the stock is owned by institutional investors.

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.