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

GE Aerospace (NYSE:GE - Get Free Report) shares shot up 1.3% on Friday . The stock traded as high as $240.80 and last traded at $238.86. 2,552,506 shares changed hands during trading, a decline of 53% from the average session volume of 5,404,488 shares. The stock had previously closed at $235.89.

Analysts Set New Price Targets

A number of research firms recently issued reports on GE. 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. Wells Fargo & Company increased their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Royal Bank Of Canada set a $275.00 price target on shares of GE Aerospace and gave the stock an "outperform" rating in a report on Tuesday, June 3rd. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Finally, Citigroup decreased their target price on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Two analysts have 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 a consensus price target of $221.15.

GE Aerospace Trading Up 3.7%

The firm has a 50-day simple moving average of $221.93 and a 200-day simple moving average of $200.46. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90. The stock has a market cap of $264.66 billion, a PE ratio of 38.60, a P/E/G ratio of 2.89 and a beta of 1.38.

GE Aerospace (NYSE:GE - Get Free Report) last issued 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. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. Equities analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

Insider Activity at GE Aerospace

In other news, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following the completion of the sale, the vice president now owns 11,540 shares in the company, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the transaction, the senior vice president now owns 8,805 shares in the company, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GE Aerospace

A number of hedge funds and other institutional investors have recently bought and sold shares of GE. Sendero Wealth Management LLC increased its stake in GE Aerospace by 526.6% in the first quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock valued at $3,004,000 after acquiring an additional 12,613 shares during the last quarter. Chung Wu Investment Group LLC bought a new position in shares of GE Aerospace during the 4th quarter valued at about $795,000. National Bank of Canada FI increased its position in shares of GE Aerospace by 2.9% during the 4th quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock valued at $177,535,000 after purchasing an additional 29,844 shares during the last quarter. National Pension Service raised its holdings in shares of GE Aerospace by 1.7% during the 4th quarter. National Pension Service now owns 2,254,637 shares of the company's stock valued at $376,051,000 after buying an additional 37,884 shares in the last quarter. Finally, FourThought Financial Partners LLC bought a new stake in GE Aerospace in the 4th quarter worth approximately $507,000. 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.