1,215 Shares in GE Aerospace $GE Acquired by Canvas Wealth Advisors LLC

Canvas Wealth Advisors LLC bought a new position in shares of GE Aerospace (NYSE:GE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,215 shares of the company’s stock, valued at approximately $329,000.

Other large investors have also recently made changes to their positions in the company. Ameriflex Group Inc. increased its stake in shares of GE Aerospace by 23.5% during the second quarter. Ameriflex Group Inc. now owns 1,742 shares of the company’s stock worth $437,000 after buying an additional 331 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of GE Aerospace by 17.1% during the first quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company’s stock worth $1,647,000 after buying an additional 1,201 shares during the period. Rainey & Randall Wealth Advisors Inc. purchased a new stake in shares of GE Aerospace during the first quarter worth approximately $203,000. Concurrent Investment Advisors LLC increased its stake in shares of GE Aerospace by 25.1% during the first quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company’s stock worth $8,065,000 after buying an additional 8,245 shares during the period. Finally, Global Assets Advisory LLC increased its stake in shares of GE Aerospace by 186.7% during the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company’s stock worth $2,751,000 after buying an additional 9,580 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on GE. Zacks Research lowered shares of GE Aerospace from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $350.00 price target on shares of GE Aerospace in a research note on Wednesday, October 8th. UBS Group increased their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Aerospace in a research note on Wednesday, October 8th. Finally, Citigroup reiterated a “buy” rating and issued a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $276.31.

GE Aerospace Price Performance

GE stock opened at $300.60 on Monday. The company has a market capitalization of $318.77 billion, a P/E ratio of 41.92, a PEG ratio of 3.23 and a beta of 1.49. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $307.25. The business has a 50 day simple moving average of $286.07 and a 200-day simple moving average of $251.22. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE) last posted its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.23. The business had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The company’s revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 earnings per share. As a group, equities analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be issued 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 Company 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.