Shares of GE Aerospace (NYSE:GE) have received an average recommendation of “Moderate Buy” from a panel of nineteen analysts, according to MarketBeat Ratings. The consensus includes two sell ratings, two hold recommendations, and a robust fifteen buy recommendations. The average twelve-month price target stands at approximately $301.27, reflecting analysts’ optimistic outlook on the company’s stock performance.
Several research reports have emerged recently, shedding light on the stock’s potential. Notably, the Royal Bank of Canada increased its price target for GE Aerospace from $300.00 to $340.00, assigning the company an “outperform” rating in a report published on October 17, 2023. Similarly, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating with a price target of $350.00 on October 8, 2023. In contrast, Zacks Research adjusted its rating from “strong-buy” to “hold” on September 26, 2023. Furthermore, Bank of America raised its target price from $310.00 to $365.00, continuing to endorse the stock as a “buy” as of October 27, 2023.
Institutional Investments and Stock Performance
In recent months, several hedge funds and institutional investors have adjusted their positions in GE Aerospace. REAP Financial Group LLC acquired a new stake valued at approximately $25,000 during the third quarter. Marquette Asset Management LLC also entered the market with a new investment worth about $26,000. Meanwhile, Barnes Dennig Private Wealth Management LLC increased its position by 147.2%, now owning 89 shares valued at $27,000 after acquiring an additional 53 shares in the last quarter.
Overall, institutional investors currently hold 74.77% of GE Aerospace’s stock. The company’s shares opened at $296.94 recently, a 1.2% increase. The stock’s 50-day moving average is $301.75, while its 200-day moving average stands at $273.22. GE Aerospace boasts a market capitalization of $313.22 billion, a P/E ratio of 39.65, and a beta of 1.56. Over the past year, the stock has fluctuated between a low of $159.36 and a high of $316.67.
Quarterly Earnings and Future Guidance
On October 21, 2023, GE Aerospace disclosed its quarterly earnings, reporting $1.66 earnings per share (EPS), surpassing analysts’ expectations of $1.46 by $0.20. The company’s revenue for the quarter reached $11.31 billion, significantly exceeding the anticipated $10.29 billion. Year-over-year, GE Aerospace demonstrated a revenue growth of 26.4%. The company has set its fiscal year 2025 guidance between $6.00 and $6.20 EPS, while analysts project an EPS of $5.40 for the current year.
In addition to its financial performance, GE Aerospace recently declared a quarterly dividend of $0.36, which was paid on October 27, 2023 to shareholders who were on record as of September 29, 2023. The dividend represents an annualized figure of $1.44, yielding 0.5% of the stock’s price. The company’s payout ratio is currently 19.23%.
As a leading provider of aerospace products and services, GE Aerospace operates through two primary segments: Commercial Engines and Services, and Defense and Propulsion Technologies. The company’s offerings include jet and turboprop engines alongside integrated systems for various aviation sectors, encompassing commercial, military, business, and general aviation aircraft.
Analysts continue to monitor GE Aerospace as it navigates the evolving aerospace market landscape, with expectations of robust performance in the near future.
