GE Aerospace (NYSE:GE) Stock Price Up 1.5% - Still a Buy?

GE Aerospace (NYSE:GE - Get Free Report)'s share price shot up 1.5% on Wednesday . The company traded as high as $246.34 and last traded at $245.68. 1,944,427 shares were traded during trading, a decline of 64% from the average session volume of 5,397,008 shares. The stock had previously closed at $242.00.

Analyst Ratings Changes

GE has been the subject of a number of research analyst reports. Royal Bank of Canada set a $275.00 price objective on shares of GE Aerospace and gave the company an "outperform" rating in a research report on Tuesday, June 3rd. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Redburn Atlantic initiated coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Finally, UBS Group upped their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $221.15.

GE Aerospace Trading Down 1.6%

The company has a market cap of $251.74 billion, a P/E ratio of 39.41, a PEG ratio of 2.59 and a beta of 1.38. The business has a fifty day moving average price of $216.42 and a 200-day moving average price of $198.36. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

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

Insider Activity

In other news, VP Robert M. Giglietti sold 4,104 shares of the company's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the transaction, the senior vice president now owns 8,805 shares of the company's stock, valued at $1,766,899.35. This trade represents a 15.39% 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 modified their holdings of the stock. Sendero Wealth Management LLC boosted its position in GE Aerospace by 526.6% during the first quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock valued at $3,004,000 after acquiring an additional 12,613 shares during the last quarter. Chung Wu Investment Group LLC bought a new position in shares of GE Aerospace during the 4th quarter worth about $795,000. National Bank of Canada FI lifted its position in GE Aerospace by 2.9% in the 4th quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock valued at $177,535,000 after acquiring an additional 29,844 shares in the last quarter. National Pension Service lifted its position in GE Aerospace by 1.7% in the 4th quarter. National Pension Service now owns 2,254,637 shares of the company's stock valued at $376,051,000 after acquiring an additional 37,884 shares in the last quarter. Finally, FourThought Financial Partners LLC purchased a new stake in GE Aerospace in the 4th quarter valued at about $507,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

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.