Kanawha Capital Management LLC Acquires 67 Shares of GE Aerospace $GE

Kanawha Capital Management LLC lifted its holdings in GE Aerospace (NYSE:GE) by 0.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 10,546 shares of the company’s stock after buying an additional 67 shares during the period. Kanawha Capital Management LLC’s holdings in GE Aerospace were worth $2,714,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Brighton Jones LLC grew its holdings in GE Aerospace by 25.3% during the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company’s stock valued at $2,003,000 after purchasing an additional 2,421 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in GE Aerospace by 7.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company’s stock valued at $375,000 after purchasing an additional 150 shares during the last quarter. GAMMA Investing LLC grew its holdings in GE Aerospace by 18.5% during the 1st quarter. GAMMA Investing LLC now owns 25,311 shares of the company’s stock valued at $5,066,000 after purchasing an additional 3,946 shares during the last quarter. CWA Asset Management Group LLC grew its holdings in GE Aerospace by 37.9% during the 1st quarter. CWA Asset Management Group LLC now owns 6,658 shares of the company’s stock valued at $1,333,000 after purchasing an additional 1,830 shares during the last quarter. Finally, ORG Wealth Partners LLC grew its holdings in GE Aerospace by 23.0% during the 1st quarter. ORG Wealth Partners LLC now owns 716 shares of the company’s stock valued at $146,000 after purchasing an additional 134 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GE has been the topic of several analyst reports. Royal Bank Of Canada upped their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, July 18th. Wells Fargo & Company upped their price target on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Jefferies Financial Group upped their price target on shares of GE Aerospace from $320.00 to $350.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Wolfe Research upped their price target on shares of GE Aerospace from $280.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Finally, The Goldman Sachs Group boosted their price objective on shares of GE Aerospace from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Fifteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $267.13.

GE Aerospace Price Performance

GE Aerospace stock opened at $300.60 on Friday. The stock has a market cap of $318.77 billion, a price-to-earnings ratio of 41.92, a price-to-earnings-growth ratio of 3.23 and a beta of 1.49. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $307.25. The firm has a 50-day moving average of $286.07 and a two-hundred day moving average of $250.42.

GE Aerospace (NYSE:GE) last released its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.23. The company had revenue of $10.15 billion during the quarter, compared to analysts’ expectations of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm’s quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.20 EPS. On average, research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace’s dividend payout ratio is presently 20.08%.

GE Aerospace Profile

GE Aerospace (also known as General Electric) is a company that specializes in providing aerospace products and services. It operates through two reportable segments: Commercial Engines and Services and Defense and Propulsion Technologies. It offers jet and turboprop engines, as well as integrated systems for commercial, military, business, and general aviation aircraft.