GE Aerospace (NYSE:GE) Hits New 52-Week High – Should You Buy?

GE Aerospace (NYSE:GE) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $236.08 and last traded at $234.93, with a volume of 4303966 shares changing hands. The stock had previously closed at $235.29.

Wall Street Analyst Weigh In

Several research analysts recently commented on GE shares. Wells Fargo & Company lifted their price target on GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $220.00 price objective on shares of GE Aerospace in a research note on Wednesday, April 23rd. Northcoast Research downgraded GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday. JPMorgan Chase & Co. increased their price target on GE Aerospace from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Bank of America lifted their price objective on shares of GE Aerospace from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, GE Aerospace presently has a consensus rating of “Moderate Buy” and an average price target of $216.92.

GE Aerospace Stock Down 0.2%

The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The company has a 50-day simple moving average of $199.84 and a 200 day simple moving average of $190.46. The company has a market cap of $250.53 billion, a P/E ratio of 39.22, a P/E/G ratio of 2.59 and a beta of 1.31.

GE Aerospace (NYSE:GE) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.20. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations 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 anticipate that GE Aerospace will post 5.4 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the sale, the senior vice president now directly owns 8,805 shares in the company, valued at $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the company’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following the completion of the sale, the vice president now directly owns 11,540 shares of the company’s stock, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On GE Aerospace

Large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in GE Aerospace by 0.8% in the first quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company’s stock worth $18,115,065,000 after buying an additional 692,124 shares in the last quarter. FMR LLC boosted its position in GE Aerospace by 1.5% during the 4th quarter. FMR LLC now owns 66,823,968 shares of the company’s stock valued at $11,145,570,000 after acquiring an additional 965,012 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of GE Aerospace by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock valued at $5,030,028,000 after acquiring an additional 1,492,486 shares during the period. Geode Capital Management LLC increased its holdings in shares of GE Aerospace by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company’s stock valued at $3,846,587,000 after acquiring an additional 529,457 shares during the period. Finally, Norges Bank bought a new position in shares of GE Aerospace in the 4th quarter worth $2,375,439,000. Institutional investors own 74.77% of the company’s stock.

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.