GE Aerospace (NYSE:GE) Trading Up 2.3% - Here's What Happened

GE Aerospace (NYSE:GE - Get Free Report)'s stock price was up 2.3% on Monday . The stock traded as high as $245.15 and last traded at $244.92. Approximately 1,872,232 shares were traded during trading, a decline of 65% from the average daily volume of 5,372,890 shares. The stock had previously closed at $239.37.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GE shares. Wells Fargo & Company upped their price target on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Royal Bank Of Canada set a $275.00 price target on GE Aerospace and gave the stock an "outperform" rating in a research report on Tuesday, June 3rd. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Citigroup cut their price objective on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Finally, UBS Group increased their price objective on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $221.15.

GE Aerospace Price Performance

The stock has a market cap of $263.01 billion, a P/E ratio of 38.36, a P/E/G ratio of 2.89 and a beta of 1.38. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. The business has a 50 day simple moving average of $221.93 and a 200-day simple moving average of $200.46.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly 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. The firm had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.06 billion. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. On average, sell-side analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

Insider Transactions at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the transaction, the senior vice president now owns 8,805 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the company's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the sale, the vice president now owns 11,540 shares of the company's stock, 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. Corporate insiders own 0.21% of the company's stock.

Institutional Investors Weigh In On GE Aerospace

Several institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in GE Aerospace during the 4th quarter worth $2,375,439,000. GQG Partners LLC purchased a new position in GE Aerospace during the 1st quarter worth $1,606,840,000. GAMMA Investing LLC increased its holdings in GE Aerospace by 23,611.7% during the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock worth $1,013,959,000 after purchasing an additional 5,044,632 shares during the period. Nuveen LLC purchased a new position in shares of GE Aerospace in the 1st quarter valued at $777,075,000. Finally, Amundi increased its holdings in shares of GE Aerospace by 124.0% in the 1st quarter. Amundi now owns 3,200,479 shares of the company's stock valued at $600,506,000 after acquiring an additional 1,771,944 shares during the period. 74.77% of the stock is owned by institutional investors.

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.

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