GE Aerospace (NYSE:GE) Stock Price Up 3.9% – Should You Buy?

GE Aerospace (NYSE:GE)’s stock price was up 3.9% during trading on Monday. The stock traded as high as $337.55 and last traded at $335.8020. Approximately 4,128,384 shares changed hands during trading, a decline of 20% from the average session volume of 5,150,911 shares. The stock had previously closed at $323.24.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. UBS Group restated a “buy” rating and issued a $380.00 price objective (up from $377.00) on shares of GE Aerospace in a report on Wednesday, October 21st. Sanford C. Bernstein set a $376.00 price objective on shares of GE Aerospace in a research note on Friday, October 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $378.00 target price on shares of GE Aerospace in a report on Wednesday, October 21st. Jefferies Financial Group reiterated a “buy” rating and set a $425.00 target price on shares of GE Aerospace in a research report on Sunday, October 25th. Finally, TD Cowen reiterated a “buy” rating and set a $380.00 target price (up from $330.00) on shares of GE Aerospace in a research report on Monday, July 13th. Sixteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, GE Aerospace has a consensus rating of “Moderate Buy” and an average target price of $373.45.

GE Aerospace Price Performance

The firm has a market cap of $347.00 billion, a price-to-earnings ratio of 38.73, a P/E/G ratio of 2.20 and a beta of 1.43. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.96. The company has a 50 day moving average of $314.70 and a 200 day moving average of $323.12.

GE Aerospace (NYSE:GE) last posted its earnings results on Tuesday, October 20th. The company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.24. GE Aerospace had a return on equity of 44.43% and a net margin of 17.31%. The firm had revenue of $13.29 billion for the quarter, compared to analyst estimates of $12.88 billion. During the same period in the previous year, the company posted $1.66 earnings per share. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. Equities research analysts predict that GE Aerospace will post 8.16 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Monday, October 5th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, October 5th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.6%. GE Aerospace’s dividend payout ratio (DPR) is currently 21.68%.

Insider Buying and Selling at GE Aerospace

In other news, VP Robert Giglietti sold 14,796 shares of GE Aerospace stock in a transaction dated 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 transaction, the vice president owned 20,201 shares in the company, valued at $6,717,640.54. The trade was a 42.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by company insiders.

Institutional Trading of GE Aerospace

Large investors have recently bought and sold shares of the business. Bessemer Group Inc. lifted its stake in GE Aerospace by 29.8% in the third quarter. Bessemer Group Inc. now owns 49,600 shares of the company’s stock valued at $15,491,000 after buying an additional 11,383 shares in the last quarter. SGL Investment Advisors Inc. boosted its holdings in shares of GE Aerospace by 10.0% in the third quarter. SGL Investment Advisors Inc. now owns 1,973 shares of the company’s stock valued at $638,000 after buying an additional 180 shares during the period. Pettee Investors Inc. boosted its holdings in shares of GE Aerospace by 6.4% in the third quarter. Pettee Investors Inc. now owns 7,832 shares of the company’s stock valued at $2,446,000 after buying an additional 471 shares during the period. IFG Advisory LLC increased its position in shares of GE Aerospace by 15.9% during the third quarter. IFG Advisory LLC now owns 4,727 shares of the company’s stock worth $1,476,000 after acquiring an additional 648 shares in the last quarter. Finally, Bellwether Advisors LLC bought a new stake in shares of GE Aerospace during the third quarter worth $1,273,000. 74.77% of the stock is owned by institutional investors.

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.