Canandaigua National Bank & Trust Co. Purchases 3,441 Shares of GE Aerospace $GE

Canandaigua National Bank & Trust Co. boosted its position in shares of GE Aerospace (NYSE:GE) by 24.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 17,762 shares of the company’s stock after acquiring an additional 3,441 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in GE Aerospace were worth $4,572,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Putney Financial Group LLC bought a new stake in GE Aerospace during the 4th quarter valued at $28,000. IMA Advisory Services Inc. purchased a new position in GE Aerospace during the 1st quarter valued at $28,000. Copia Wealth Management increased its position in GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company’s stock valued at $29,000 after purchasing an additional 142 shares during the period. Nova Wealth Management Inc. purchased a new position in GE Aerospace during the 1st quarter valued at $29,000. Finally, Wealth Preservation Advisors LLC purchased a new position in GE Aerospace during the 1st quarter valued at $30,000. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GE shares. Barclays boosted their price objective 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. Wells Fargo & Company boosted their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Royal Bank Of Canada boosted their price objective 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. UBS Group boosted their price objective 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, Citigroup reissued a “buy” rating and set a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $232.92.

GE Aerospace Stock Up 0.0%

NYSE:GE opened at $281.67 on Monday. The firm’s 50-day moving average price is $269.33 and its 200-day moving average price is $234.15. The company has a market capitalization of $298.69 billion, a PE ratio of 39.28, a P/E/G ratio of 3.03 and a beta of 1.48. 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 $286.91.

GE Aerospace (NYSE:GE) last announced 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 analysts’ expectations of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. GE Aerospace’s revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. On average, equities analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

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