GE Aerospace (NYSE:GE) Sets New 12-Month High – Time to Buy?

GE Aerospace (NYSE:GE)’s share price reached a new 52-week high on Wednesday . The company traded as high as $236.08 and last traded at $234.93, with a volume of 4303966 shares. The stock had previously closed at $235.29.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wells Fargo & Company lifted their price target on GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Bank of America lifted their target price on GE Aerospace from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Citigroup decreased their price target on GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Redburn Atlantic assumed coverage on shares of GE Aerospace in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $220.00 target price on shares of GE Aerospace in a research note on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, GE Aerospace presently has an average rating of “Moderate Buy” and a consensus target price of $216.92.

GE Aerospace Price Performance

The firm has a fifty day moving average of $201.12 and a two-hundred day moving average of $191.16. The stock has a market capitalization of $245.44 billion, a P/E ratio of 38.42, a P/E/G ratio of 2.59 and a beta of 1.31. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

GE Aerospace (NYSE:GE) last posted its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.20. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. On average, analysts predict that GE Aerospace will post 5.4 EPS for the current year.

Insider Activity at GE Aerospace

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the business’s stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the sale, the vice president now owns 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Mohamed Ali sold 1,602 shares of the firm’s stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the transaction, the senior vice president now directly owns 8,805 shares of the company’s stock, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GE Aerospace

Hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in GE Aerospace in the fourth quarter valued at $2,375,439,000. GQG Partners LLC acquired a new position in shares of GE Aerospace in the 1st quarter valued at about $1,606,840,000. GAMMA Investing LLC lifted its holdings in shares of GE Aerospace by 23,611.7% in the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company’s stock valued at $1,013,959,000 after buying an additional 5,044,632 shares during the period. Nuveen LLC purchased a new stake in shares of GE Aerospace in the first quarter worth about $777,075,000. Finally, Amundi grew its holdings in GE Aerospace by 124.0% during the first 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 during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

GE Aerospace Company Profile

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.