GE Aerospace (NYSE:GE) Stock Jumps 1.3% – Still a Buy?

GE Aerospace (NYSE:GE)’s stock price traded up 1.3% during trading on Wednesday. The stock traded as high as $304.47 and last traded at $301.6550. 5,699,990 shares changed hands during trading, an increase of 11% from the average daily volume of 5,132,019 shares. The stock had previously closed at $297.66.

GE Aerospace News Summary

Here are the key news stories impacting GE Aerospace this week:

• Positive Sentiment: GE approved NYCO’s French turbine oil for Boeing 787 GEnx-1B engines following Air France trials. The approval could support engine reliability and broaden GE’s aftermarket and maintenance opportunities. GE approves French turbine oil for Boeing 787 after Air France trials
• Positive Sentiment: A next-generation aircraft test flight over GE Aerospace’s Niskayuna, New York, research center highlights the company’s involvement in future aircraft and propulsion technologies. While not an immediate earnings catalyst, the activity reinforces GE’s long-term innovation pipeline. Future generation of planes test flight
• Positive Sentiment: GE’s engine and services businesses continue to benefit from commercial aviation demand, with analysts still recognizing the strength of its aftermarket franchise despite more cautious expectations. Is GE Aerospace Stock Worth More Than Its Competitors?

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GE shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $378.00 target price on shares of GE Aerospace in a report on Wednesday, October 21st. TD Cowen reaffirmed a “buy” rating and set a $380.00 price target (up from $330.00) on shares of GE Aerospace in a research report on Monday, July 13th. Wells Fargo & Company reduced their price objective on GE Aerospace from $390.00 to $380.00 and set an “overweight” rating for the company in a research note on Wednesday, September 30th. Jefferies Financial Group reiterated a “buy” rating and issued a $425.00 price objective on shares of GE Aerospace in a research note on Sunday, October 25th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $410.00 price objective on shares of GE Aerospace in a report on Monday, July 20th. Sixteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, GE Aerospace has an average rating of “Moderate Buy” and a consensus price target of $373.45.

GE Aerospace Stock Performance

The firm has a fifty day moving average of $317.37 and a 200-day moving average of $323.12. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $311.64 billion, a price-to-earnings ratio of 34.78, a PEG ratio of 2.05 and a beta of 1.38.

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

GE Aerospace Announces Dividend

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

Hedge Funds Weigh In On GE Aerospace

Hedge funds have recently made changes to their positions in the business. Focused Wealth Management Inc grew its position in shares of GE Aerospace by 1.3% during the 3rd quarter. Focused Wealth Management Inc now owns 11,019 shares of the company’s stock worth $3,441,000 after purchasing an additional 139 shares in the last quarter. Rakuten Investment Management Inc. raised its position in shares of GE Aerospace by 9.1% in the third quarter. Rakuten Investment Management Inc. now owns 186,231 shares of the company’s stock valued at $59,201,000 after buying an additional 15,496 shares in the last quarter. Third View Private Wealth LLC bought a new stake in shares of GE Aerospace in the third quarter valued at approximately $345,000. Provenance Wealth Advisors LLC boosted its stake in shares of GE Aerospace by 322.1% in the third quarter. Provenance Wealth Advisors LLC now owns 3,769 shares of the company’s stock valued at $1,177,000 after buying an additional 2,876 shares during the period. Finally, Lyell Wealth Management LP grew its position in GE Aerospace by 1.9% during the third quarter. Lyell Wealth Management LP now owns 1,803 shares of the company’s stock worth $563,000 after buying an additional 34 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

About GE Aerospace

GE Aerospace (NYSE: GE) is a global aerospace company that designs, develops, manufactures and services aircraft engines and related systems. Its products support commercial air transport, business and general aviation, military aircraft, and other defense applications. The company also provides engine components, avionics, mechanical systems, digital solutions and maintenance, repair and overhaul services.

GE Aerospace serves airlines, aircraft operators, leasing companies, airframers and government customers worldwide.