Shares of General Electric (NYSE: GE) are up about 3.3% in today’s trading session after the company reported its Q3 results.

GE reported Q3 EPS of $0.57 to easily beat the analyst estimate of $0.43. Revenue for the quarter came in at $18.4 billion, lower than the consensus estimate of $19.25 billion. The company also reported $1.7 billion in Industrial FCF, above the consensus of $0.9 billion.

“The GE team delivered another strong quarter. Orders grew, margins expanded, our overall cash performance was significantly better, and Aviation is building momentum and showing continued signs of recovery. The teams are managing through a challenging operating environment, including global supply chain disruptions and onshore wind market pressure due to the U.S. Production Tax Credit. Against that backdrop, we're raising our 2021 EPS expectations and narrowing our full-year free cash flow outlook,” GE Chairman and CEO H. Lawrence Culp said.

On the guidance front, GE projects FY21 EPS between $1.80 and $2.10, with the guidance midpoint coming in slightly ahead of the $1.94 consensus. The company also raised its CY21 FCF industrial outlook to $3.75 billion to $4.75 billion vs. prior $3.5 billion to $5 billion.

Goldman Sachs analyst Joe Ritchie maintained the Buy rating and a $136.00 per share price target on GE. The analyst said he is “encouraged” by Q3 results and the company’s progress towards becoming a stronger company from the fundamental standpoint.

“Of note, there was increased investor scrutiny on GE's Aviation margins given the potential for a contract margin review (CMR), but we were encouraged that GE reported 15.7% margins, >400bps above GS/FS consensus. GE also updated their FY21 Industrial FCF guide to $3.75-$4.75bn (from $3.5-$5.0bn), which implies 4Q FCF of $2.5-$3.5bn. On the surface, the 4Q FCF guide appears conservative as the seasonal step up from 3Q to 4Q has historically been greater. We expect the 4Q FCF/EPS guide to be the focal point on the call given that the range remains fairly wide (4Q implied EPS: $0.61-$0.91),” the analyst said in a client note.

Cowen analyst Gautam Khanna reiterated a Marker Perform rating and a $108.00 per share price target on the GE stock.

“Q3 adj. EPS beat recently lowered consensus, on strong Aviation results. Investors may pick at the implied Q4 EPS guide ($0.60-0.90 vs. Street's $0.85) because of its wide range, but all in, Q3's print is decent vs. fairly subdued expectations heading in,” Khanna wrote in a brief note post earnings.

Shares of GE are up 30% YTD.