Royal Bank Of Canada Issues Positive Forecast for GE Aerospace (NYSE:GE) Stock Price

Key Points

• Royal Bank of Canada raised its price target for GE Aerospace stock from $300 to $340, indicating a potential upside of 13.11%.
• Multiple analysts have recently upgraded their price targets for GE Aerospace, with UBS Group setting it at $321 and Jefferies Financial Group at $350.
• Institutional investors have increased their stakes in GE Aerospace, with Norges Bank acquiring over $3.4 billion in new shares during the second quarter.

GE Aerospace (NYSE:GE - Get Free Report) had its price target raised by research analysts at Royal Bank Of Canada from $300.00 to $340.00 in a report issued on Friday,MarketScreener reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective points to a potential upside of 13.11% from the stock's previous close.

A number of other research analysts have also recently issued reports on the stock. UBS Group raised their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Wells Fargo & Company lifted their target price on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Barclays boosted their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Jefferies Financial Group boosted their price target on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Finally, Wall Street Zen downgraded shares of GE Aerospace from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. Fifteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $276.31.

GE Aerospace Price Performance

Shares of GE opened at $300.60 on Friday. The company has a market cap of $318.77 billion, a price-to-earnings ratio of 41.92, a price-to-earnings-growth ratio of 3.23 and a beta of 1.49. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $307.25. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The company has a 50 day moving average of $286.07 and a two-hundred day moving average of $250.77.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. The business had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business's quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the company posted $1.20 earnings per share. As a group, analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GE Aerospace

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in GE Aerospace during the 2nd quarter worth approximately $3,408,828,000. GQG Partners LLC purchased a new stake in GE Aerospace during the 1st quarter worth approximately $1,606,840,000. Nuveen LLC purchased a new stake in GE Aerospace during the 1st quarter worth approximately $777,075,000. Amundi grew its holdings in GE Aerospace by 124.0% during the 1st quarter. Amundi now owns 3,200,479 shares of the company's stock worth $600,506,000 after acquiring an additional 1,771,944 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in GE Aerospace by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company's stock worth $5,030,028,000 after acquiring an additional 1,492,486 shares in 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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