GE Aerospace (NYSE:GE) Trading 2.4% Higher After Analyst Upgrade

GE Aerospace (NYSE:GE - Get Free Report) rose 2.4% during trading on Thursday after Wells Fargo & Company raised their price target on the stock from $34.00 to $38.00. The stock traded as high as $269.05 and last traded at $269.42. Approximately 1,232,713 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 6,239,293 shares. The stock had previously closed at $263.18.

Other equities research analysts have also issued reports about the stock. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Barclays lifted their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Royal Bank Of Canada lifted their price target on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Finally, UBS Group boosted their target price on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, GE Aerospace has an average rating of "Moderate Buy" and an average price target of $232.92.

Insider Activity at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the transaction, the senior vice president owned 8,805 shares in the company, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. New Age Alpha Advisors LLC grew its stake in shares of GE Aerospace by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after acquiring an additional 84 shares during the period. Sumitomo Mitsui Financial Group Inc. bought a new position in GE Aerospace in the 4th quarter worth $28,000. Putney Financial Group LLC purchased a new stake in GE Aerospace in the 4th quarter worth $28,000. IMA Advisory Services Inc. bought a new stake in GE Aerospace during the first quarter valued at about $28,000. Finally, Copia Wealth Management grew its position in shares of GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after purchasing an additional 142 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

GE Aerospace Price Performance

The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The firm has a 50-day moving average of $247.59 and a 200-day moving average of $214.32. The stock has a market cap of $287.67 billion, a PE ratio of 37.84, a PEG ratio of 3.06 and a beta of 1.37.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.23. The business had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The firm's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 EPS. Research analysts predict 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 will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.53%. GE Aerospace's payout ratio is presently 20.08%.

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.