GE Aerospace (NYSE:GE) Shares Up 0.5% After Analyst Upgrade

GE Aerospace (NYSE:GE)’s share price rose 0.5% during trading on Friday after Wells Fargo & Company raised their price target on the stock from $212.00 to $222.00. Wells Fargo & Company currently has an overweight rating on the stock. GE Aerospace traded as high as $199.99 and last traded at $198.42. Approximately 998,623 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 5,388,893 shares. The stock had previously closed at $197.41.

Several other research analysts have also recently weighed in on GE. Royal Bank of Canada restated an “outperform” rating and issued a $220.00 price objective on shares of GE Aerospace in a research report on Wednesday. Redburn Atlantic assumed coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target on the stock. UBS Group lifted their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday. Northcoast Research raised GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 target price on the stock in a research note on Wednesday, April 9th. Finally, Bank of America lifted their price target on GE Aerospace from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $216.92.

Institutional Trading of GE Aerospace

A number of institutional investors have recently made changes to their positions in GE. Johnson & White Wealth Management LLC purchased a new position in GE Aerospace during the 4th quarter valued at about $733,000. Chung Wu Investment Group LLC bought a new stake in shares of GE Aerospace in the 4th quarter worth approximately $795,000. National Bank of Canada FI raised its holdings in shares of GE Aerospace by 2.9% during the fourth 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 in the last quarter. World Investment Advisors LLC raised its holdings in shares of GE Aerospace by 60.7% during the third quarter. World Investment Advisors LLC now owns 13,662 shares of the company’s stock valued at $2,576,000 after acquiring an additional 5,162 shares in the last quarter. Finally, National Pension Service lifted its stake 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 acquiring an additional 37,884 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Trading Up 0.6 %

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’s fifty day moving average is $194.36 and its two-hundred day moving average is $186.67. The firm has a market cap of $213.10 billion, a P/E ratio of 33.15, a PEG ratio of 2.59 and a beta of 1.04.

GE Aerospace (NYSE:GE) last announced its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating 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. Analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, March 10th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from GE Aerospace’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.73%. GE Aerospace’s payout ratio is currently 22.40%.

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.