GE Aerospace (NYSE:GE) Trading Up 1.3% - Should You Buy?

Key Points

• GE Aerospace (NYSE:GE) saw its stock rise by 1.3% during mid-day trading, reaching a high of $277.18, while trading volume decreased significantly by 86% from the daily average.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for GE Aerospace, with price targets from multiple firms elevated to a range of $296.00 to $300.00.
• The company reported a quarterly earnings per share (EPS) of $1.66, exceeding estimates, and achieved a revenue of $10.15 billion, marking a 21.2% increase year-over-year.

GE Aerospace (NYSE:GE - Get Free Report) was up 1.3% during mid-day trading on Friday . The stock traded as high as $277.18 and last traded at $275.55. Approximately 835,264 shares changed hands during trading, a decline of 86% from the average daily volume of 6,093,987 shares. The stock had previously closed at $272.02.

Analyst Ratings Changes

A number of analysts have recently weighed in on GE shares. UBS Group raised their price objective on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Barclays raised their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Wells Fargo & Company raised their target price on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Finally, Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Stock Up 0.1%

The firm has a market cap of $291.89 billion, a PE ratio of 38.39, a price-to-earnings-growth ratio of 2.96 and a beta of 1.44. The business has a 50-day moving average price of $255.87 and a two-hundred day moving average price of $222.43. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The firm had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the company posted $1.20 earnings per share. GE Aerospace's revenue for the quarter was up 21.2% compared to the same quarter last year. On average, equities research analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Rainey & Randall Wealth Advisors Inc. purchased a new position in GE Aerospace in the first quarter valued at about $203,000. Sendero Wealth Management LLC increased its stake in shares of GE Aerospace by 526.6% during the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock worth $3,004,000 after purchasing an additional 12,613 shares in the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of GE Aerospace by 25.1% during the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock worth $8,065,000 after purchasing an additional 8,245 shares in the last quarter. Global Assets Advisory LLC increased its stake in shares of GE Aerospace by 186.7% during the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock worth $2,751,000 after purchasing an additional 9,580 shares in the last quarter. Finally, Leisure Capital Management purchased a new position in shares of GE Aerospace during the 1st quarter worth approximately $222,000. 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.