GE Aerospace (NYSE:GE) Trading Up 0.7% - Time to Buy?

GE Aerospace (NYSE:GE - Get Free Report) shares shot up 0.7% during trading on Monday . The stock traded as high as $233.67 and last traded at $233.47. 1,072,864 shares traded hands during trading, a decline of 80% from the average session volume of 5,333,599 shares. The stock had previously closed at $231.78.

Wall Street Analysts Forecast Growth

GE has been the topic of several recent analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $220.00 target price on shares of GE Aerospace in a research report on Wednesday, April 23rd. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday. Wells Fargo & Company boosted their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Redburn Atlantic initiated coverage on shares of GE Aerospace in a research note on Tuesday, February 18th. They set a "buy" rating and a $250.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective 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. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, GE Aerospace presently has a consensus rating of "Moderate Buy" and a consensus price target of $216.92.

GE Aerospace Price Performance

The firm has a 50-day simple moving average of $198.19 and a two-hundred day simple moving average of $189.71. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $250.61 billion, a price-to-earnings ratio of 39.23, a P/E/G ratio of 2.59 and a beta of 1.31.

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

Insider Activity at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the company's 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 sale, the senior vice president now directly owns 8,805 shares in the company, valued at $1,766,899.35. This represents a 15.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the business's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the transaction, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Institutional Trading of GE Aerospace

Several institutional investors have recently made changes to their positions in the company. Carnegie Investment Counsel raised its holdings in GE Aerospace by 12.0% in the 4th quarter. Carnegie Investment Counsel now owns 3,857 shares of the company's stock valued at $643,000 after buying an additional 413 shares during the period. Procyon Advisors LLC increased its position in shares of GE Aerospace by 14.3% during the fourth quarter. Procyon Advisors LLC now owns 2,251 shares of the company's stock valued at $375,000 after acquiring an additional 281 shares during the last quarter. Merit Financial Group LLC raised its stake in shares of GE Aerospace by 16.4% in the 4th quarter. Merit Financial Group LLC now owns 30,427 shares of the company's stock valued at $5,075,000 after acquiring an additional 4,298 shares during the period. Arkadios Wealth Advisors lifted its holdings in shares of GE Aerospace by 6.4% in the 4th quarter. Arkadios Wealth Advisors now owns 6,411 shares of the company's stock worth $1,069,000 after acquiring an additional 388 shares during the last quarter. Finally, Trust Co. of Vermont lifted its holdings in shares of GE Aerospace by 13.1% in the 4th quarter. Trust Co. of Vermont now owns 7,910 shares of the company's stock worth $1,319,000 after acquiring an additional 917 shares during the last quarter. Hedge funds and other 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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