GE Aerospace (NYSE:GE) Trading Up 0% – What’s Next?

GE Aerospace (NYSE:GE) rose 0% during mid-day trading on Tuesday . The stock traded as high as $236.08 and last traded at $235.39. Approximately 938,914 shares were traded during trading, a decline of 82% from the average daily volume of 5,330,720 shares. The stock had previously closed at $235.29.

Analysts Set New Price Targets

GE has been the subject of several research analyst reports. UBS Group raised their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Northcoast Research cut shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday. Citigroup lowered their price target on GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $220.00 price objective on shares of GE Aerospace in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company increased their target price on GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, GE Aerospace presently has a consensus rating of “Moderate Buy” and a consensus price target of $216.92.

GE Aerospace Stock Down 0.1%

The stock has a 50 day simple moving average of $198.98 and a 200 day simple moving average of $190.15. The stock has a market cap of $250.61 billion, a price-to-earnings ratio of 39.16, a PEG ratio of 2.59 and a beta of 1.31. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

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 business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. As a group, analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Insider Activity at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the business’s stock in a transaction that occurred 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 owns 8,805 shares in the company, valued at $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Robert M. Giglietti sold 4,104 shares of the 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 transaction, the vice president now owns 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GE Aerospace

Institutional investors have recently bought and sold shares of the company. Integrity Alliance LLC. purchased a new position in shares of GE Aerospace during the first quarter worth about $649,000. Ransom Advisory Ltd acquired a new position in GE Aerospace during the 1st quarter valued at approximately $87,000. Anchor Investment Management LLC grew its holdings in GE Aerospace by 2.3% in the 1st quarter. Anchor Investment Management LLC now owns 12,038 shares of the company’s stock worth $2,409,000 after buying an additional 273 shares in the last quarter. Glenview Trust co raised its stake in shares of GE Aerospace by 6.9% in the 1st quarter. Glenview Trust co now owns 12,559 shares of the company’s stock worth $2,514,000 after buying an additional 809 shares in the last quarter. Finally, Aspen Investment Management Inc lifted its holdings in shares of GE Aerospace by 5.4% during the 1st quarter. Aspen Investment Management Inc now owns 2,244 shares of the company’s stock valued at $449,000 after buying an additional 114 shares during 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.