GE Aerospace (NYSE:GE) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of GE Aerospace (NYSE:GE) have earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $232.9167.

A number of analysts recently issued reports on GE shares. Citigroup restated a “buy” rating and set a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. UBS Group raised their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Sanford C. Bernstein restated an “outperform” rating on shares of GE Aerospace in a research report on Friday. Northcoast Research lowered shares of GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Finally, Wall Street Zen upgraded shares of GE Aerospace from a “hold” rating to a “buy” rating in a report on Friday, July 18th.

Hedge Funds Weigh In On GE Aerospace

Several institutional investors have recently added to or reduced their stakes in GE. Norges Bank acquired a new stake in shares of GE Aerospace during the 2nd quarter worth approximately $3,408,828,000. GQG Partners LLC acquired a new stake in shares of GE Aerospace during the 1st quarter worth approximately $1,606,840,000. GAMMA Investing LLC grew its position in shares of GE Aerospace by 23,611.7% during the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company’s stock worth $1,013,959,000 after buying an additional 5,044,632 shares during the period. Nuveen LLC acquired a new stake in shares of GE Aerospace during the 1st quarter worth approximately $777,075,000. Finally, Amundi grew its position in shares of 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 buying an additional 1,771,944 shares during the period. 74.77% of the stock is owned by institutional investors.

GE Aerospace Trading Down 0.8%

Shares of GE Aerospace stock opened at $267.62 on Friday. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $281.50. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The stock has a market cap of $283.79 billion, a PE ratio of 37.32, a price-to-earnings-growth ratio of 2.90 and a beta of 1.44. The company has a 50-day moving average of $257.44 and a two-hundred day moving average of $224.17.

GE Aerospace (NYSE:GE) last issued its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. The company 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 firm’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period last year, the company posted $1.20 earnings per share. On average, research analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace’s payout ratio is 20.08%.

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.