Canandaigua National Bank & Trust Co. Boosts Holdings in GE Aerospace $GE

Key Points

• Canandaigua National Bank & Trust Co. increased its stake in GE Aerospace by 24.0% in Q2, holding 17,762 shares worth approximately $4.57 million.
• GE Aerospace recently reported earnings of $1.66 per share, exceeding the analyst consensus estimate of $1.43, with quarterly revenue of $10.15 billion.
• Investment firms are optimistic about GE Aerospace, with Wells Fargo raising its price target from $34.00 to $38.00, while UBS lifted its target from $300.00 to $321.00, both signaling a buy rating.

Canandaigua National Bank & Trust Co. increased its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 24.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,762 shares of the company's stock after buying an additional 3,441 shares during the period. Canandaigua National Bank & Trust Co.'s holdings in GE Aerospace were worth $4,572,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Putney Financial Group LLC purchased a new position in shares of GE Aerospace in the fourth quarter worth about $28,000. IMA Advisory Services Inc. purchased a new position in shares of GE Aerospace in the first quarter worth about $28,000. Copia Wealth Management increased its stake in shares of GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after purchasing an additional 142 shares in the last quarter. Nova Wealth Management Inc. purchased a new position in shares of GE Aerospace in the first quarter worth about $29,000. Finally, Wealth Preservation Advisors LLC purchased a new position in shares of GE Aerospace in the first quarter worth about $30,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GE. Wells Fargo & Company raised their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. UBS Group lifted their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a research report on Saturday. Sanford C. Bernstein reiterated an "outperform" rating on shares of GE Aerospace in a research report on Friday, August 15th. Finally, Royal Bank Of Canada lifted their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Trading Up 0.0%

Shares of GE opened at $281.67 on Monday. The firm has a market cap of $298.69 billion, a price-to-earnings ratio of 39.28, a PEG ratio of 3.03 and a beta of 1.48. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $286.91. The firm has a 50 day moving average price of $269.33 and a 200-day moving average price of $234.15.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. The firm had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business's quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, equities research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, July 7th. GE Aerospace's 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.

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