Shares of GE Aerospace (NYSE:GE – Get Free Report) have been given an average recommendation of “Moderate Buy” by the twenty ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $373.45.
Several analysts have recently weighed in on the stock. HC Wainwright set a $375.00 price objective on shares of GE Aerospace in a report on Wednesday, October 21st. Melius Research set a $350.00 target price on GE Aerospace and gave the stock a “hold” rating in a report on Monday, September 14th. Jefferies Financial Group restated a “buy” rating and set a $425.00 price target on shares of GE Aerospace in a research report on Sunday, October 25th. The Goldman Sachs Group restated a “buy” rating and set a $410.00 price target on shares of GE Aerospace in a research report on Monday, July 20th. Finally, Sanford C. Bernstein set a $376.00 price target on GE Aerospace in a report on Friday, October 23rd.
Check Out Our Latest Stock Report on GE Aerospace
Key Stories Impacting GE Aerospace
Here are the key news stories impacting GE Aerospace this week:
- Positive Sentiment: GE Aerospace partnered with BETA Technologies on a hybrid-electric aircraft demonstration, marking progress in a new propulsion technology area. GE Aerospace partners with BETA Technologies
- Positive Sentiment: GE is part of a team working on KC-135 modernization, adding a defense-program opportunity alongside its commercial aerospace business. SNC teams with BAE, Collins and GE for KC-135 modernization
- Neutral Sentiment: Analyst coverage highlighted GE’s roughly $170 billion services backlog and generally favorable ratings, but also questioned whether the stock’s valuation already reflects much of its growth potential. GE Aerospace backlog and valuation analysis
- Negative Sentiment: Vice President Robert Giglietti sold 14,796 shares, cutting his reported stake by about 42%. Insider sales can have many explanations, but may contribute to investor caution. GE Aerospace VP sells shares
- Negative Sentiment: ETFs were reported as net sellers of GE shares, a sign of near-term fund outflows that could weigh on sentiment. ETFs are net sellers of General Electric
Insider Activity at GE Aerospace
In other news, VP Robert Giglietti sold 14,796 shares of the stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $332.54, for a total transaction of $4,920,261.84. Following the sale, the vice president owned 20,201 shares in the company, valued at approximately $6,717,640.54. This represents a 42.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.19% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in GE. Rasp Wealth Solutions LLC increased its position in shares of GE Aerospace by 4.8% during the third quarter. Rasp Wealth Solutions LLC now owns 1,515 shares of the company’s stock worth $473,000 after buying an additional 70 shares during the period. MSH Capital Advisors LLC raised its stake in GE Aerospace by 8.9% during the third quarter. MSH Capital Advisors LLC now owns 1,680 shares of the company’s stock worth $525,000 after buying an additional 137 shares during the last quarter. Cornerstone Advisory LLC lifted its holdings in GE Aerospace by 12.9% in the third quarter. Cornerstone Advisory LLC now owns 2,717 shares of the company’s stock valued at $849,000 after buying an additional 310 shares during the period. Shah Wealth Advisors LLC lifted its holdings in GE Aerospace by 38.6% in the third quarter. Shah Wealth Advisors LLC now owns 4,752 shares of the company’s stock valued at $1,484,000 after buying an additional 1,323 shares during the period. Finally, Bernicke Wealth Management Ltd. acquired a new position in GE Aerospace in the third quarter valued at $814,000. Institutional investors and hedge funds own 74.77% of the company’s stock.
GE Aerospace Stock Up 0.1%
GE opened at $323.54 on Monday. The firm’s 50-day simple moving average is $314.70 and its 200-day simple moving average is $323.12. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.68 and a current ratio of 0.98. GE Aerospace has a twelve month low of $268.91 and a twelve month high of $388.84. The firm has a market cap of $334.33 billion, a price-to-earnings ratio of 37.32, a PEG ratio of 2.20 and a beta of 1.43.
GE Aerospace (NYSE:GE – Get Free Report) last announced its quarterly earnings results on Tuesday, October 20th. The company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.24. The firm had revenue of $13.29 billion during the quarter, compared to the consensus estimate of $12.88 billion. GE Aerospace had a net margin of 17.31% and a return on equity of 44.43%. The firm’s quarterly revenue was up 24.7% on a year-over-year basis. During the same period last year, the firm posted $1.66 EPS. Equities research analysts anticipate that GE Aerospace will post 8.16 EPS for the current fiscal year.
GE Aerospace Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Shareholders of record on Monday, October 5th were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, October 5th. This represents a $1.88 dividend on an annualized basis and a yield of 0.6%. GE Aerospace’s payout ratio is currently 21.68%.
About GE Aerospace
GE Aerospace NYSE: GE designs, manufactures and services engines and related systems for commercial and military aircraft. Its offerings include aircraft engines, components, avionics and other integrated systems, along with maintenance, repair and overhaul services and digital solutions that support aircraft operations.
The company serves airlines, aircraft manufacturers, governments and defense organizations around the world. Its business combines original equipment production with long-term aftermarket support, including parts and technical services for engines already in operation.
GE Aerospace traces its roots to General Electric’s aviation business, which developed over more than a century.
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