GE Aerospace (NYSE:GE) Trading 1.8% Higher - Here's What Happened

GE Aerospace (NYSE:GE - Get Free Report) was up 1.8% during trading on Thursday . The stock traded as high as $227.45 and last traded at $227.22. Approximately 1,468,935 shares traded hands during trading, a decline of 72% from the average daily volume of 5,336,090 shares. The stock had previously closed at $223.24.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GE shares. Royal Bank of Canada reiterated an "outperform" rating and set a $220.00 target price on shares of GE Aerospace in a research report on Wednesday, April 23rd. UBS Group raised their target price on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Wells Fargo & Company upped their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday. Finally, Bank of America increased their price objective on GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $216.92.

GE Aerospace Price Performance

The firm has a market cap of $250.61 billion, a PE ratio of 39.23, a price-to-earnings-growth ratio of 2.59 and a beta of 1.31. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The firm has a 50-day simple moving average of $198.19 and a 200 day simple moving average of $189.71.

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

Insider Activity at GE Aerospace

In other news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction that occurred on 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 directly owns 8,805 shares in the company, valued at $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the business'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 sale, the vice president now 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. 0.21% of the stock is currently owned by insiders.

Institutional Trading of GE Aerospace

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Truvestments Capital LLC grew its stake in shares of GE Aerospace by 19.5% during the 1st quarter. Truvestments Capital LLC now owns 282 shares of the company's stock worth $56,000 after purchasing an additional 46 shares during the period. Sfmg LLC grew its position in GE Aerospace by 2.4% during the first quarter. Sfmg LLC now owns 2,088 shares of the company's stock worth $418,000 after buying an additional 48 shares during the period. SGL Investment Advisors Inc. lifted its position in shares of GE Aerospace by 3.6% during the 1st quarter. SGL Investment Advisors Inc. now owns 1,413 shares of the company's stock valued at $303,000 after acquiring an additional 49 shares during the period. Ritter Daniher Financial Advisory LLC DE boosted its stake in shares of GE Aerospace by 17.6% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company's stock worth $56,000 after acquiring an additional 50 shares in the last quarter. Finally, Hudock Inc. grew its holdings in shares of GE Aerospace by 1.8% in the 1st quarter. Hudock Inc. now owns 2,905 shares of the company's stock worth $582,000 after acquiring an additional 50 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

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.