Royal Bank Of Canada Forecasts Strong Price Appreciation for GE Aerospace (NYSE:GE) Stock

GE Aerospace (NYSE:GE - Get Free Report) had its target price lifted by equities researchers at Royal Bank Of Canada from $275.00 to $300.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 12.59% from the company's current price.

A number of other research firms have also commented on GE. Citigroup reaffirmed a "buy" rating and set a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research report on Monday. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. UBS Group raised their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company raised their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, GE Aerospace has a consensus rating of "Moderate Buy" and an average price target of $240.33.

GE Aerospace Stock Performance

Shares of GE traded up $6.18 during trading hours on Friday, hitting $266.46. The company had a trading volume of 3,876,129 shares, compared to its average volume of 5,627,939. The firm has a market cap of $284.15 billion, a price-to-earnings ratio of 41.45, a PEG ratio of 3.19 and a beta of 1.37. The business has a fifty day moving average of $243.40 and a 200-day moving average of $211.08. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $272.80. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings data 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. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The company had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period in the prior year, the firm earned $1.20 earnings per share. The company's revenue was up 21.2% on a year-over-year basis. Equities analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

Insider Buying and Selling at GE Aerospace

In other news, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction on Tuesday, April 29th. The shares were 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 owned 8,805 shares in the company, valued at $1,766,899.35. This represents a 15.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the company's stock in a transaction on 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 owned 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 added to or reduced their stakes in the business. Impact Capital Partners LLC lifted its holdings in shares of GE Aerospace by 3.0% in the second quarter. Impact Capital Partners LLC now owns 2,822 shares of the company's stock worth $726,000 after buying an additional 81 shares in the last quarter. Childress Capital Advisors LLC lifted its holdings in shares of GE Aerospace by 13.5% in the second quarter. Childress Capital Advisors LLC now owns 3,819 shares of the company's stock worth $983,000 after buying an additional 454 shares in the last quarter. Consolidated Portfolio Review Corp purchased a new stake in shares of GE Aerospace in the second quarter worth about $949,000. TABR Capital Management LLC bought a new position in shares of GE Aerospace in the second quarter worth approximately $206,000. Finally, LBP AM SA grew its position in GE Aerospace by 9.2% during the second quarter. LBP AM SA now owns 87,607 shares of the company's stock valued at $22,549,000 after acquiring an additional 7,347 shares during the last quarter. 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.

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