Canvas Wealth Advisors LLC Makes New $329,000 Investment in GE Aerospace $GE

Key Points

• Canvas Wealth Advisors LLC has made a new investment, acquiring 1,215 shares of GE Aerospace for approximately $329,000 during the second quarter.
• GE Aerospace reported earnings of $1.66 per share, which exceeded analyst expectations by $0.23, along with a 21.2% increase in revenue year-over-year.
• The company’s quarterly dividend of $0.36 per share will be paid to shareholders of record by October 27th, yielding a 0.5% annualized return.

Canvas Wealth Advisors LLC bought a new position in shares of GE Aerospace (NYSE:GE - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,215 shares of the company's stock, valued at approximately $329,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameriflex Group Inc. boosted its stake in GE Aerospace by 23.5% during the 2nd quarter. Ameriflex Group Inc. now owns 1,742 shares of the company's stock worth $437,000 after purchasing an additional 331 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of GE Aerospace by 17.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company's stock valued at $1,647,000 after acquiring an additional 1,201 shares during the last quarter. Rainey & Randall Wealth Advisors Inc. acquired a new position in shares of GE Aerospace during the 1st quarter valued at about $203,000. Concurrent Investment Advisors LLC boosted its position in shares of GE Aerospace by 25.1% during the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock valued at $8,065,000 after acquiring an additional 8,245 shares during the last quarter. Finally, Global Assets Advisory LLC boosted its position in shares of GE Aerospace by 186.7% during the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock valued at $2,751,000 after acquiring an additional 9,580 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Stock Up 0.3%

Shares of NYSE:GE opened at $300.60 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The firm has a market capitalization of $318.77 billion, a PE ratio of 41.92, a price-to-earnings-growth ratio of 3.23 and a beta of 1.49. The firm's 50-day moving average is $286.07 and its two-hundred day moving average is $251.22. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $307.25.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. The company had revenue of $10.15 billion for 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 revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 earnings per share. Analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be paid a dividend of $0.36 per share. The ex-dividend date is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's dividend payout ratio is 20.08%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GE shares. Royal Bank Of Canada boosted their price target on shares of GE Aerospace from $300.00 to $340.00 and gave the company an "outperform" rating in a research report on Friday. Barclays boosted their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Wall Street Zen cut shares of GE Aerospace from a "buy" rating to a "hold" rating in a research report on Sunday, September 21st. UBS Group boosted their price target 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. Finally, Wells Fargo & Company upped their target price on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Fifteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, GE Aerospace has an average rating of "Moderate Buy" and a consensus price target of $276.31.

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.

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