GE Aerospace’s (GE) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of GE Aerospace (NYSE:GE) in a research note published on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has a $220.00 price target on the stock.

A number of other brokerages also recently issued reports on GE. Redburn Atlantic assumed coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on shares of GE Aerospace from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft cut their price target on GE Aerospace from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. UBS Group raised their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Bank of America boosted their target price on GE Aerospace from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $216.92.

GE Aerospace Stock Performance

Shares of GE Aerospace stock opened at $198.55 on Wednesday. The firm has a market capitalization of $213.10 billion, a price-to-earnings ratio of 33.15, a PEG ratio of 2.59 and a beta of 1.04. GE Aerospace has a one year low of $150.20 and a one year high of $214.21. The business has a 50-day simple moving average of $194.36 and a 200 day simple moving average of $186.68. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

GE Aerospace (NYSE:GE) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.20. The firm had revenue of $9.94 billion during 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, research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, March 10th were paid a $0.36 dividend. The ex-dividend date was Monday, March 10th. This is an increase from GE Aerospace’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.73%. GE Aerospace’s payout ratio is currently 22.40%.

Hedge Funds Weigh In On GE Aerospace

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC bought a new position in GE Aerospace during the 3rd quarter valued at approximately $3,400,000. Westside Investment Management Inc. grew its stake in shares of GE Aerospace by 6.0% in the 3rd quarter. Westside Investment Management Inc. now owns 1,245 shares of the company’s stock worth $235,000 after buying an additional 70 shares during the last quarter. Diamant Asset Management Inc. grew 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 stake in GE Aerospace by 30.2% during the 3rd quarter. Morse Asset Management Inc now owns 18,616 shares of the company’s stock valued at $3,511,000 after purchasing an additional 4,320 shares in the last quarter. Finally, SkyView Investment Advisors LLC increased its position in shares of GE Aerospace by 1.9% during the third quarter. SkyView Investment Advisors LLC now owns 12,240 shares of the company’s stock valued at $2,308,000 after acquiring an additional 232 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

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.