GE Aerospace (NYSE:GE) Reaches New 52-Week High – Here’s What Happened

GE Aerospace (NYSE:GE)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $216.80 and last traded at $214.64, with a volume of 5866207 shares. The stock had previously closed at $209.92.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GE. Bank of America increased their target price on shares of GE Aerospace from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Redburn Atlantic began coverage on shares of GE Aerospace in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price for the company. Wells Fargo & Company upped 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. Northcoast Research raised GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 price objective for the company in a research report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. upped their target price on GE Aerospace from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $216.92.

GE Aerospace Stock Performance

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 fifty day moving average price of $194.92 and a 200 day moving average price of $187.61. The stock has a market cap of $228.89 billion, a P/E ratio of 35.83, a P/E/G ratio of 2.59 and a beta of 1.31.

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

GE Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, March 10th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.44 annualized dividend and a yield of 0.67%. This is an increase from GE Aerospace’s previous quarterly dividend of $0.28. GE Aerospace’s dividend payout ratio is 22.40%.

Insider Buying and Selling at GE Aerospace

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the company’s stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the transaction, the vice president now owns 11,540 shares in the company, valued at $2,270,264.20. This represents a 26.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the firm’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the sale, 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 ownership of the stock. 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 large investors have recently added to or reduced their stakes in GE. Norges Bank purchased a new position in GE Aerospace in the fourth quarter valued at approximately $2,375,439,000. GAMMA Investing LLC lifted 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 valued at $1,013,959,000 after buying an additional 5,044,632 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of GE Aerospace by 87.7% during the 4th quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company’s stock worth $597,412,000 after acquiring an additional 1,673,365 shares during the period. Invesco Ltd. increased its holdings in GE Aerospace by 14.4% in the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company’s stock worth $1,591,970,000 after acquiring an additional 1,204,910 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in GE Aerospace in the 4th quarter valued at about $194,208,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

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.