Is GE Aerospace stock a buy?

SIA Wealth Management chief market strategist Colin Cieszynski said GE Aerospace (GE Aerospace Stock Quote, Chart, News, Analysts, Financials NYSE:GE) remains one of the strongest performers in the U.S. industrial sector, citing its steady accumulation trend and top relative strength ranking among large-cap stocks.

Speaking on BNN Bloomberg’s Market Call on Oct. 2, Cieszynski said the aerospace and defence sector “has been doing really well” this year, and GE Aerospace has consistently stood out. “This stock has just been under nice, steady accumulation forever,” he said.

“When I went through our rankings of stocks among U.S. big caps, outside of gold stocks, GE was literally the highest-ranked industrial stock in our relative strength rankings of U.S. large caps,” he said. “Of course, being highly ranked, we do own it in our portfolios and we have for a long time and we continue to maintain that.”

Cieszynski said GE’s chart pattern is exactly what institutional investors look for.

“These nice, steady, going up in a 45-degree line. We can hold them for a long time, we don’t get caught as hard in swings… For an institutional investor, this makes us very happy.”

GE Aerospace shares have gained 517.5% over the past three years. Of the analysts covering the stock, 17 rate it “Buy,” three “Hold” and two “Sell,” with a consensus target price of US$297.95.

Shares closed Oct. 3 at US$297.00.

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