GE Aerospace (NYSE:GE) Shares Up 1.6% Following Analyst Upgrade

GE Aerospace (NYSE:GE)’s share price traded up 1.6% on Wednesday after BNP Paribas upgraded the stock to a strong sell rating. The stock traded as high as $301.67 and last traded at $300.84. 2,877,197 shares changed hands during trading, a decline of 47% from the average session volume of 5,417,479 shares. The stock had previously closed at $296.01.

A number of other analysts have also recently commented on the company. UBS Group set a $366.00 price objective on GE Aerospace and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Aerospace in a report on Wednesday, October 8th. Wall Street Zen raised shares of GE Aerospace from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. TD Cowen raised their target price on shares of GE Aerospace from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Finally, Bank of America lifted their target price on shares of GE Aerospace from $310.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Fifteen analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $301.27.

Insider Buying and Selling at GE Aerospace

In related news, SVP Russell Stokes sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $297.71, for a total value of $2,381,680.00. Following the sale, the senior vice president directly owned 150,434 shares of the company’s stock, valued at approximately $44,785,706.14. This trade represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GE Aerospace

A number of large investors have recently bought and sold shares of GE. Jacobsen Capital Management raised its position in shares of GE Aerospace by 1.4% in the 3rd quarter. Jacobsen Capital Management now owns 2,295 shares of the company’s stock worth $690,000 after buying an additional 32 shares during the period. Harfst & Associates Inc. increased its stake in GE Aerospace by 0.4% during the third quarter. Harfst & Associates Inc. now owns 7,444 shares of the company’s stock worth $2,239,000 after acquiring an additional 33 shares during the last quarter. Ledyard National Bank raised its holdings in shares of GE Aerospace by 1.2% in the 3rd quarter. Ledyard National Bank now owns 2,754 shares of the company’s stock worth $828,000 after purchasing an additional 33 shares during the period. Hardy Reed LLC raised its holdings in shares of GE Aerospace by 0.7% in the 3rd quarter. Hardy Reed LLC now owns 4,999 shares of the company’s stock worth $1,504,000 after purchasing an additional 33 shares during the period. Finally, RMG Wealth Management LLC lifted its stake in shares of GE Aerospace by 8.3% in the 3rd quarter. RMG Wealth Management LLC now owns 442 shares of the company’s stock valued at $132,000 after purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Down 1.1%

The stock has a fifty day moving average price of $301.45 and a 200-day moving average price of $271.08. The firm has a market cap of $303.04 billion, a PE ratio of 38.36, a PEG ratio of 3.09 and a beta of 1.56. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.76 and a current ratio of 1.08.

GE Aerospace (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.46 by $0.20. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The firm had revenue of $11.31 billion for the quarter, compared to analyst estimates of $10.29 billion. During the same quarter last year, the firm posted $1.15 earnings per share. GE Aerospace’s revenue for the quarter was up 26.4% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Research analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Monday, September 29th were given a $0.36 dividend. The ex-dividend date of this dividend was Monday, September 29th. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio is presently 19.23%.

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.