GE Aerospace (NYSE:GE) Trading 1.5% Higher – Time to Buy?

GE Aerospace (NYSE:GE) shares rose 1.5% during trading on Friday . The company traded as high as $207.67 and last traded at $206.75. Approximately 739,580 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 5,857,553 shares. The stock had previously closed at $203.61.

Analyst Ratings Changes

A number of brokerages have weighed in on GE. Wells Fargo & Company raised their price objective on GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Northcoast Research upgraded shares of GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 price target for the company in a research note on Wednesday, April 9th. UBS Group increased their price objective 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. Royal Bank of Canada reissued an “outperform” rating and issued a $220.00 target price on shares of GE Aerospace in a research report on Wednesday, April 23rd. 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 given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $216.92.

GE Aerospace Trading Up 2.1 %

The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The company has a market cap of $221.67 billion, a price-to-earnings ratio of 34.70, a P/E/G ratio of 2.59 and a beta of 1.04. The firm’s fifty day moving average price is $194.31 and its 200-day moving average price is $187.12.

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

GE Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, March 10th were paid a dividend of $0.36 per share. This is a boost from GE Aerospace’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Monday, March 10th. GE Aerospace’s payout ratio is currently 22.40%.

Insider Buying and Selling

In related news, SVP Mohamed Ali sold 1,602 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $1,766,899.35. This trade represents a 15.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the transaction, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. The trade was a 26.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On GE Aerospace

Several hedge funds have recently made changes to their positions in GE. New Age Alpha Advisors LLC grew its holdings in shares of GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock worth $25,000 after acquiring an additional 84 shares during the last quarter. Hager Investment Management Services LLC acquired a new position in shares of GE Aerospace in the 4th quarter valued at $27,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in GE Aerospace in the 4th quarter worth about $28,000. Putney Financial Group LLC acquired a new stake in GE Aerospace during the 4th quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in GE Aerospace during the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

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.