Wells Fargo & Company Issues Positive Forecast for GE Aerospace (NYSE:GE) Stock Price

GE Aerospace (NYSE:GE - Get Free Report) had its target price raised by stock analysts at Wells Fargo & Company from $212.00 to $222.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's target price would suggest a potential upside of 11.15% from the stock's previous close.

GE has been the topic of several other research reports. 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. lifted their price objective on GE Aerospace from $190.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Citigroup lowered their price target on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of GE Aerospace from $235.00 to $228.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $220.00 price target on shares of GE Aerospace in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $216.92.

GE Aerospace Stock Performance

GE stock traded up $1.31 during mid-day trading on Thursday, hitting $199.74. The company had a trading volume of 1,677,311 shares, compared to its average volume of 5,383,359. The stock's fifty day moving average price is $194.36 and its two-hundred day moving average price is $186.66. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $214.21. The firm has a market cap of $214.37 billion, a PE ratio of 33.36, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

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

Institutional Investors Weigh In On GE Aerospace

A number of institutional investors have recently bought and sold shares of GE. Johnson & White Wealth Management LLC purchased a new stake in shares of GE Aerospace in the fourth quarter worth about $733,000. Chung Wu Investment Group LLC purchased a new stake in shares of GE Aerospace during the 4th quarter worth approximately $795,000. National Bank of Canada FI boosted 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 acquiring an additional 29,844 shares during the last quarter. World Investment Advisors LLC grew its holdings in shares of GE Aerospace by 60.7% in the third quarter. World Investment Advisors LLC now owns 13,662 shares of the company's stock valued at $2,576,000 after purchasing an additional 5,162 shares in the last quarter. Finally, National Pension Service increased its position in GE Aerospace by 1.7% in the fourth quarter. National Pension Service now owns 2,254,637 shares of the company's stock worth $376,051,000 after purchasing an additional 37,884 shares during the last quarter. 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.