Kanawha Capital Management LLC Raises Position in GE Aerospace $GE

Kanawha Capital Management LLC raised its holdings in shares of GE Aerospace (NYSE:GE) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,546 shares of the company’s stock after acquiring an additional 67 shares during the quarter. Kanawha Capital Management LLC’s holdings in GE Aerospace were worth $2,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of GE Aerospace by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company’s stock worth $18,115,065,000 after acquiring an additional 692,124 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of GE Aerospace by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock valued at $5,030,028,000 after buying an additional 1,492,486 shares in the last quarter. Invesco Ltd. lifted its stake in shares of GE Aerospace by 0.6% during the 1st quarter. Invesco Ltd. now owns 9,599,522 shares of the company’s stock valued at $1,921,344,000 after buying an additional 54,765 shares in the last quarter. GQG Partners LLC purchased a new position in shares of GE Aerospace during the 1st quarter valued at $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of GE Aerospace by 6.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,676,180 shares of the company’s stock valued at $1,536,387,000 after buying an additional 491,207 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Performance

Shares of NYSE GE opened at $300.60 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The company has a market cap of $318.77 billion, a P/E ratio of 41.92, a P/E/G ratio of 3.23 and a beta of 1.49. The firm’s fifty day moving average is $286.07 and its two-hundred day moving average is $250.42. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $307.25.

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, beating analysts’ consensus estimates of $1.43 by $0.23. The company had revenue of $10.15 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 21.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.20 EPS. As a group, analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace’s payout ratio is 20.08%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GE shares. Barclays lifted their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Wall Street Zen cut shares of GE Aerospace from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. 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 note on Friday, July 18th. Zacks Research cut shares of GE Aerospace from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. Finally, Wells Fargo & Company lifted their target price on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $267.13.

About GE Aerospace

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.