GE Aerospace (NYSE:GE) Stock Price Up 0.5% Following Analyst Upgrade

Shares of GE Aerospace (NYSE:GE - Get Free Report) were up 0.5% on Friday after Wells Fargo & Company raised their price target on the stock from $212.00 to $222.00. Wells Fargo & Company currently has an overweight rating on the stock. GE Aerospace traded as high as $199.99 and last traded at $198.42. Approximately 998,623 shares changed hands during trading, a decline of 81% from the average daily volume of 5,388,893 shares. The stock had previously closed at $197.41.

A number of other brokerages have also commented on GE. Citigroup dropped their target price on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. UBS Group upped their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft cut their price objective on shares of GE Aerospace from $235.00 to $228.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $220.00 price target on shares of GE Aerospace in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on GE Aerospace from $190.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $216.92.

Institutional Investors Weigh In On GE Aerospace

A number of institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new position in GE Aerospace in the 3rd quarter valued at about $3,400,000. Westside Investment Management Inc. lifted its position in shares of GE Aerospace by 6.0% in the third quarter. Westside Investment Management Inc. now owns 1,245 shares of the company's stock valued at $235,000 after acquiring an additional 70 shares in the last quarter. Diamant Asset Management Inc. boosted its stake in shares of GE Aerospace by 2.7% in the third quarter. Diamant Asset Management Inc. now owns 6,098 shares of the company's stock worth $1,150,000 after acquiring an additional 158 shares during the last quarter. Morse Asset Management Inc increased its position in shares of GE Aerospace by 30.2% during the third quarter. Morse Asset Management Inc now owns 18,616 shares of the company's stock worth $3,511,000 after purchasing an additional 4,320 shares in the last quarter. Finally, SkyView Investment Advisors LLC lifted its holdings in GE Aerospace by 1.9% in the 3rd quarter. SkyView Investment Advisors LLC now owns 12,240 shares of the company's stock valued at $2,308,000 after purchasing an additional 232 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Stock Performance

The firm's 50 day simple moving average is $194.36 and its 200-day simple moving average is $186.66. The company has a market cap of $213.10 billion, a price-to-earnings ratio of 33.15, a PEG ratio of 2.59 and a beta of 1.04. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating analysts' consensus estimates of $1.29 by $0.20. The company had revenue of $9.94 billion during 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, sell-side analysts predict that GE Aerospace will post 5.4 EPS for the current 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 issued a $0.36 dividend. This is a positive change from GE Aerospace's previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.73%. The ex-dividend date was Monday, March 10th. GE Aerospace's payout ratio is 22.40%.

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.