GE Aerospace (NYSE:GE) Stock Price Up 1.3% – Still a Buy?

Shares of GE Aerospace (NYSE:GE) were up 1.3% during mid-day trading on Friday . The stock traded as high as $240.80 and last traded at $238.86. Approximately 2,552,506 shares traded hands during trading, a decline of 53% from the average daily volume of 5,404,488 shares. The stock had previously closed at $235.89.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GE shares. Northcoast Research downgraded shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Wells Fargo & Company lifted their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Royal Bank Of Canada set a $275.00 price target on shares of GE Aerospace and gave the company an “outperform” rating in a research report on Tuesday, June 3rd. UBS Group lifted their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Finally, Citigroup dropped their price target on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.15.

GE Aerospace Trading Up 1.3%

The firm has a market capitalization of $254.78 billion, a price-to-earnings ratio of 37.16, a P/E/G ratio of 2.89 and a beta of 1.38. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.08 and a quick ratio of 0.77. The firm’s 50-day simple moving average is $221.93 and its 200 day simple moving average is $200.27.

GE Aerospace (NYSE:GE) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.29 by $0.20. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. Equities analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

Insider Buying and Selling at GE Aerospace

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the business’s stock in a transaction 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the business’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 sale, the senior vice president now directly owns 8,805 shares in the company, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Institutional Trading of GE Aerospace

A number of hedge funds and other institutional investors have recently modified their holdings of GE. Vanguard Group Inc. grew its stake in shares of GE Aerospace by 0.8% in the first quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company’s stock worth $18,115,065,000 after purchasing an additional 692,124 shares during the last quarter. FMR LLC grew its stake in shares of GE Aerospace by 1.5% in the fourth quarter. FMR LLC now owns 66,823,968 shares of the company’s stock worth $11,145,570,000 after purchasing an additional 965,012 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of GE Aerospace by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock worth $5,030,028,000 after purchasing an additional 1,492,486 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of GE Aerospace by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company’s stock worth $3,846,587,000 after purchasing an additional 529,457 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of GE Aerospace in the fourth quarter worth $2,375,439,000. Institutional investors 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.