GE Aerospace (NYSE:GE) Trading 1.3% Higher - Still a 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) rose 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 were traded during trading, a decline of 86% from the average daily volume of 6,093,987 shares. The stock had previously closed at $272.02.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of recent research reports. Citigroup restated a "buy" rating and set a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Wells Fargo & Company upped their price objective on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Barclays boosted their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada increased their price objective on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Stock Up 1.1%

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 stock's 50 day simple moving average is $254.73 and its 200 day simple moving average is $220.90. The firm has a market cap of $291.59 billion, a P/E ratio of 38.32, a price-to-earnings-growth ratio of 2.93 and a beta of 1.44.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly 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. The firm had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business's quarterly revenue was up 21.2% compared to the same quarter last year. During the same period last year, the firm earned $1.20 EPS. Research analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GE. Terril Brothers Inc. boosted its stake in shares of GE Aerospace by 2.7% in the 2nd quarter. Terril Brothers Inc. now owns 1,406 shares of the company's stock valued at $362,000 after purchasing an additional 37 shares in the last quarter. Old North State Wealth Management LLC grew its stake in shares of GE Aerospace by 1.9% in 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 increased its position in shares of GE Aerospace by 18.0% during the second quarter. Stephens Consulting LLC now owns 256 shares of the company's stock worth $66,000 after acquiring an additional 39 shares in the last quarter. Francis Financial Inc. boosted its position in shares of GE Aerospace by 3.3% during the second 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 last quarter. Finally, Webster Bank N. A. grew its stake in shares of GE Aerospace by 2.1% in the 2nd quarter. Webster Bank N. A. now owns 1,970 shares of the company's stock worth $507,000 after acquiring an additional 41 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

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.

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