GE Aerospace (NYSE:GE) Stock Gets Price Target Cut from Royal Bank Of Canada
by Michael Walen · The Markets DailyGE Aerospace (NYSE:GE – Free Report) had its price objective reduced by Royal Bank Of Canada from $400.00 to $375.00 in a research note published on Wednesday, Marketbeat Ratings reports. They currently have an outperform rating on the stock.
Other analysts also recently issued research reports about the company. Melius Research set a $350.00 price target on GE Aerospace and gave the stock a “hold” rating in a research note on Monday, September 14th. Wells Fargo & Company cut their price objective on GE Aerospace from $390.00 to $380.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 30th. Weiss Ratings reissued a “buy (b)” rating on shares of GE Aerospace in a research note on Thursday, October 15th. JPMorgan Chase & Co. boosted their target price on GE Aerospace from $335.00 to $400.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of GE Aerospace in a research report on Friday, October 16th. Seventeen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $373.52.
Read Our Latest Report on GE Aerospace
GE Aerospace Trading Down 2.7%
GE Aerospace stock opened at $285.76 on Wednesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.98 and a quick ratio of 0.67. The company has a market capitalization of $295.29 billion, a price-to-earnings ratio of 38.12, a PEG ratio of 2.05 and a beta of 1.38. GE Aerospace has a one year low of $268.91 and a one year high of $388.84. The company’s fifty day moving average price is $322.95 and its two-hundred day moving average price is $328.74.
GE Aerospace (NYSE:GE – Get Free Report) last posted its earnings results on Tuesday, October 20th. The company reported $2.25 earnings per share for the quarter, beating 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 company had revenue of $13.29 billion for the quarter, compared to analyst estimates of $12.88 billion. During the same period last year, the company earned $1.66 earnings per share. The business’s revenue was up 24.7% compared to the same quarter last year. On average, analysts forecast that GE Aerospace will post 8.15 earnings per share for the current fiscal year.
GE Aerospace Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Monday, October 5th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Monday, October 5th. This represents a $1.88 annualized dividend and a yield of 0.7%. GE Aerospace’s payout ratio is currently 22.14%.
Institutional Trading of GE Aerospace
A number of large investors have recently bought and sold shares of the stock. GK Wealth Management LLC bought a new stake in shares of GE Aerospace in the 3rd quarter worth about $25,000. Paladin Partners LLC acquired a new stake in shares of GE Aerospace during the 2nd quarter worth about $38,000. Parvin Asset Management LLC acquired a new stake in shares of GE Aerospace during the 2nd quarter worth about $41,000. Clark Wealth Partners lifted its holdings in GE Aerospace by 70.1% during the 3rd quarter. Clark Wealth Partners now owns 114 shares of the company’s stock valued at $36,000 after purchasing an additional 47 shares during the last quarter. Finally, Markowski Investments bought a new position in GE Aerospace during the 2nd quarter valued at about $46,000. 74.77% of the stock is currently owned by institutional investors.
GE Aerospace News Summary
Here are the key news stories impacting GE Aerospace this week:
- Positive Sentiment: GE Aerospace beat third-quarter expectations for the eighth consecutive quarter, reporting adjusted EPS of $2.25 versus the $2.01 consensus and revenue of $13.29 billion, up 24.7% year over year. The company also raised its full-year guidance. GE Aerospace Reports Strong Earnings Again
- Positive Sentiment: Defense and Propulsion Technologies remains a bright spot, with revenue growth of 7% and orders up 18%, supported by military-engine demand and defense contracts. GE’s Defense & Propulsion Strength Seems Firm
- Positive Sentiment: Management expects to deliver more than 3,200 engines in South Asia over the next decade, highlighting a substantial long-term commercial opportunity. GE is also increasing engine deliveries as Boeing targets higher 787 production. GE Aerospace South Asia Engine Delivery Plans
- Neutral Sentiment: Several research reports remain bullish, citing strong aftermarket demand, execution improvements and GE’s leading position in aero engines. However, the stock’s elevated valuation means further gains may require continued earnings upgrades. Strong Aftermarket Demand and Improving Execution
- Negative Sentiment: Bernstein lowered its price target to $376 from $421, while Susquehanna, JPMorgan, BNP Paribas Exane and RBC also issued cautious views or reduced expectations. The cluster of target cuts is weighing on sentiment. Bernstein Lowers GE Aerospace Price Target
- Negative Sentiment: Analysts are concerned that high jet-fuel prices could pressure airline profitability and delay engine purchases. Investors are also factoring in projected 2027 transition costs associated with the GE9X production ramp, despite GE’s large services backlog. Why GE Aerospace Stock Keeps Going Down
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.
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