GE Aerospace (NYSE:GE) Given Outperform Rating at Royal Bank of Canada

GE Aerospace (NYSE:GE - Get Free Report)'s stock had its "outperform" rating restated by investment analysts at Royal Bank of Canada in a report issued on Wednesday,Benzinga reports. They presently have a $220.00 price objective on the stock. Royal Bank of Canada's price objective suggests a potential upside of 10.81% from the stock's current price.

Several other equities research analysts have also recently issued reports on GE. Bank of America lifted their price objective on shares of GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Wells Fargo & Company lifted their price target on GE Aerospace from $203.00 to $212.00 and gave the stock an "overweight" rating in a report on Tuesday, April 15th. Northcoast Research upgraded GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 price objective on the stock in a report on Wednesday, April 9th. JPMorgan Chase & Co. boosted their target price on GE Aerospace from $190.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on GE Aerospace from $235.00 to $228.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, GE Aerospace currently has an average rating of "Moderate Buy" and an average price target of $216.92.

GE Aerospace Stock Up 0.6 %

NYSE GE traded up $1.14 during trading hours on Wednesday, hitting $198.55. 4,390,590 shares of the company were exchanged, compared to its average volume of 5,397,810. The company has a 50 day moving average of $194.36 and a two-hundred day moving average of $186.67. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The firm has a market cap of $213.10 billion, a price-to-earnings ratio of 33.15, a PEG ratio of 2.59 and a beta of 1.04. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $214.21.

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

Hedge Funds Weigh In On GE Aerospace

Large investors have recently modified their holdings of the business. Smallwood Wealth Investment Management LLC acquired a new position in shares of GE Aerospace during the 1st quarter worth approximately $59,000. Smith Salley Wealth Management purchased a new stake in GE Aerospace during the 1st quarter worth about $229,000. Koshinski Asset Management Inc. acquired a new position in GE Aerospace in the 1st quarter valued at about $230,000. Essex LLC lifted its holdings in GE Aerospace by 2.5% in the 1st quarter. Essex LLC now owns 20,150 shares of the company's stock valued at $4,033,000 after purchasing an additional 484 shares in the last quarter. Finally, Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of GE Aerospace during the 1st quarter worth about $225,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

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.