Let’s look at the key reasons that are pushing GE Aerospace (GE) to new highs

GE Aerospace (NYSE: GE) on Friday, plunged -0.31% from the previous trading day, before settling in for the closing price of $169.94. Within the past 52 weeks, GE’s price has moved between $84.16 and $177.20.

During the last 5-year period, the sales drop of Industrials Sector giant was -6.11%. The company achieved an average annual earnings per share of 85.97%. With a float of $1.08 billion, this company’s outstanding shares have now reached $1.09 billion.

Let’s determine the extent of company efficiency that accounts for 125000 employees. In terms of profitability, gross margin is 28.13%, operating margin of 8.11%, and the pretax margin is 9.08%.

GE Aerospace (GE) Breakdown of a Key Holders of the stock

Observing investor behavior towards Aerospace & Defense industry stocks is more important than anything else. The insider ownership of GE Aerospace is 0.41%, while institutional ownership is 80.49%. The most recent insider transaction that took place on Aug 14 ’24, was worth 70,919,750. Before that another transaction happened on May 23 ’24, when Company’s Senior Vice President sold 45,309 for $162.82, making the entire transaction worth $7,377,211. This insider now owns 112,958 shares in total.

GE Aerospace (GE) Recent Fiscal highlights

As on 6/30/2024, Multinational firm has announced its last quarter scores, in which it reported 0.82 earnings per share (EPS) for the period topping the consensus outlook (set at 0.56) by 0.26. Wall Street market experts anticipate that the next fiscal year will bring earnings of 1.02 per share during the current fiscal year.

According to the Wall Street analysts, stocks earnings will be around 85.97% per share during the next fiscal year.

GE Aerospace (NYSE: GE) Trading Performance Indicators

GE Aerospace (GE) is currently performing well based on its current performance indicators. A quick ratio of 0.85 was reported for the most recent quarter. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 2.97. Likewise, its price to free cash flow for the trailing twelve months is 33.78.

For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 4.21, a number that is poised to hit 1.12 in the next quarter and is forecasted to reach 5.18 in one year’s time.

Technical Analysis of GE Aerospace (GE)

Looking closely at GE Aerospace (NYSE: GE), its last 5-days average volume was 3.61 million, which is a drop from its year-to-date volume of 6.94 million. As of the previous 9 days, the stock’s Stochastic%D was 92.49%. Additionally, its Average True Range was 4.88.

During the past 100 days, GE Aerospace’s (GE) raw stochastic average was set at 81.99%, which indicates a significant increase from 78.35% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 30.68% in the past 14 days, which was lower than the 34.86% volatility it showed in the past 100 days.

At the time of writing, stock’s 50-day Moving Average is $163.14, while its 200-day Moving Average is $134.29. However, in the short run, GE Aerospace’s stock first resistance to watch stands at $170.21. Second resistance stands at $171.01. The third major resistance level sits at $171.68. If the price goes on to break the first support level at $168.74, it is likely to go to the next support level at $168.07. Now, if the price goes above the second support level, the third support stands at $167.27.

GE Aerospace (NYSE: GE) Key Stats

Market capitalization of the company is 183.70 billion based on 1,094,607K outstanding shares. Right now, sales total 67,954 M and income totals 9,480 M. The company made 9,094 M in profit during its latest quarter, and 1,266 M in sales during its previous quarter.