GE Aerospace (NYSE:GE) Trading Up 0.8% Following Analyst Upgrade

GE Aerospace (NYSE:GE - Get Free Report)'s stock price was up 0.8% during trading on Thursday 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 $197.31 and last traded at $195.16. Approximately 1,638,173 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 5,983,101 shares. The stock had previously closed at $193.68.

GE has been the topic of several other reports. Bank of America lifted their target price on GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Citigroup lowered their target price on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. upped their price target on shares of GE Aerospace from $190.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, January 24th. UBS Group raised their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Finally, Northcoast Research raised shares of GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 target price for the company in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $216.92.

Institutional Investors Weigh In On GE Aerospace

Several large investors have recently made changes to their positions in the stock. Copia Wealth Management grew its position in shares of GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after acquiring an additional 142 shares during the period. New Age Alpha Advisors LLC lifted its position in shares of GE Aerospace by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after buying an additional 84 shares during the last quarter. O Brien Wealth Partners LLC bought a new position in shares of GE Aerospace during the 1st quarter worth approximately $33,000. Hager Investment Management Services LLC acquired a new position in shares of GE Aerospace during the 4th quarter worth approximately $27,000. Finally, Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of GE Aerospace during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Trading Up 1.2 %

The firm has a market cap of $215.61 billion, a P/E ratio of 33.54, a PEG ratio of 2.59 and a beta of 1.04. The business has a 50 day moving average of $194.36 and a two-hundred day moving average of $186.66. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping 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 business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. Analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, March 10th were issued a dividend of $0.36 per share. The ex-dividend date was Monday, March 10th. This is a boost from GE Aerospace's previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.72%. GE Aerospace's dividend payout ratio (DPR) is currently 22.40%.

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.