Streetbeat News

General Electric Company

https://www.geaerospace.com

Industry

Aerospace & Defense

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa. General Electric Company was incorporated in 1892 and is based in Evendale, Ohio.

Open

176.75

Mkt cap

191B

Volume

4.6M

High

177.92

P/E Ratio

34.90

52-wk high

194.80

Low

175.89

Div yield

0.01

52-wk low

94.31

GE Aerospace plans to invest over $1 billion in its Maintenance, Repair, and Overhaul (MRO) and component repair facilities worldwide over the next five years. This investment aims to increase capacity, efficiency, and technology to meet growing air travel demand.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2024 | 11:59 am

GE Vernova Inc. (NYSE:GEV) shares are trading lower due to blade damage in the Vineyard Wind 1 offshore wind project, resulting in debris washing ashore. Cleanup efforts are ongoing, and GE Vernova is investigating the issue. Despite this, the company secured a major order from Sonelgaz to enhance Algeria’s grid infrastructure.

Portfolio Pulse from Nabaparna Bhattacharya

July 18, 2024 | 5:39 pm

GE Vernova Inc. (NYSE:GEV) shares are trading lower by 4.8% today despite securing a major order from Sonelgaz through their joint venture, GE Algeria Turbines (GEAT). The order involves supplying high voltage equipment and grid automation solutions for 134 substations by 2028. JP Morgan analyst Mark Strouse recently raised the price target for GEV from $186 to $195. Investors can gain exposure to GEV via Invesco S&P Spin-Off ETF (NYSE:CSD) and Fidelity Clean Energy ETF (BATS:FRNW).

Portfolio Pulse from Nabaparna Bhattacharya

July 17, 2024 | 2:54 pm

Triumph Group, Inc. (NYSE:TGI) has been awarded a contract by GE Aerospace to provide the Auxiliary Gearbox for the F404 afterburning turbofan engine, with potential future use on multiple applications. This work will be performed at TRIUMPH's facility in Macomb, Michigan.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 1:14 pm

Blackstone Inc. (NYSE:BX) shares are trading higher following the announcement of a definitive agreement to acquire Trystar. Additionally, Blackstone and CVC Capital Partners are considering bids for StandardAero, potentially valuing it at over $10 billion. Carlyle is working with JP Morgan Chase & Co. (NYSE:JPM) and Morgan Stanley (NYSE:MS) to explore options for StandardAero, including a sale or IPO. Investors can gain exposure to private equity through EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (BATS:LBO) and Invesco Global Listed Private Equity ETF (NYSE:PSP).

Portfolio Pulse from Nabaparna Bhattacharya

July 16, 2024 | 4:23 pm

Deep-pocketed investors are showing a bullish stance towards GE Aero (NYSE:GE), with significant options activity observed. The majority of these trades are bullish, focusing on a price range between $115 and $170. Analysts maintain a Buy rating with an average price target of $202.67.

Portfolio Pulse from Benzinga Insights

July 02, 2024 | 8:45 pm

GE Aerospace has extended CEO Larry Culp's tenure until the end of 2027, with an option for an additional one-year extension. Culp's leadership has significantly reduced GE's debt and increased its market capitalization. GE's stock has gained over 85% in the last 12 months. Investors can gain exposure to GE via IShares U.S. Aerospace & Defense ETF (ITA) and TCW Transform Systems ETF (NETZ).

Portfolio Pulse from Lekha Gupta

July 02, 2024 | 2:16 pm

UBS analyst Gavin Parsons maintains a Buy rating on GE Aero (NYSE:GE) and raises the price target from $201 to $209.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 12:59 pm

The S&P 500 Index has gained 14.48% this year, driven by expectations of Federal Reserve rate cuts, strong corporate earnings, and optimism over AI technology. The SPDR S&P 500 ETF Trust (SPY) ended the latest session down 0.39%. Analysts are optimistic about further gains, with Evercore ISI predicting the index will end the year at 6,000. The top performers include Super Micro Computer (SMCI), Nvidia (NVDA), and Vistra (VST), while laggards include Walgreens Boots Alliance (WBA) and Lululemon Athletica (LULU). Analysts expect underperformers to rebound if the Fed cuts rates in September.

Portfolio Pulse from Shanthi Rexaline

June 30, 2024 | 10:02 pm

Jefferies analyst Sheila Kahyaoglu maintains a Buy rating on GE Aero (NYSE:GE) and raises the price target from $185 to $190.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 5:04 pm

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