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GE Aerospace (GE) will report earnings for the third quarter Tuesday morning, at a time when the aerospace industry faces some uncertainty with Boeing (BA) workers on strike.
GE's third-quarter results are likely to benefit from strength across its commercial and defense end markets. High costs and expenses are likely to have been spoilsports.
GE Aerospace shares have risen 11.6% since July, outperforming the S&P 500, but concerns about valuation keep my rating at 'hold'. The company showed strong revenue growth, particularly in the Commercial Engines & Services segment, but equipment sales have been weak due to supply chain issues. Despite robust fundamentals and long-term growth potential in the aviation industry, the stock's high valuation prevents me from upgrading my rating.
Chart Smarter ‘s Douglas Busch believes industrial stocks are poised for more gains soon.
Prestigious Annual Awards Program Recognizes Outstanding Information Security Products and Companies Around the World Prestigious Annual Awards Program Recognizes Outstanding Information Security Products and Companies Around the World
General Electric's fall from grace took years, but now that it is done breaking itself into pieces, the new GE Aerospace is pretty attractive.
On September 30, 2024, Vanguard Group Inc, a prominent investment firm, expanded its portfolio by acquiring an additional 601,784 shares of GE Vernova Inc (GEV, Financial), a leader in the electric power industry. This transaction increased Vanguard's total holdings in GE Vernova to 27,499,067 shares, reflecting a significant commitment to the company.
GE Aerospace is laying off 72 employees at its Schenectady site in New York state, the company said in a Worker Adjustment and Retraining Notification (WARN) notice on Wednesday.
General Electric stock (NYSE: GE) has had a solid run, rising more than 2x in the last twelve months from levels of about $90 per share in September 2023 to $190 now, led by its solid business fundamentals and its steady growth in Aerospace revenues. There is a high probability that this run is unlikely to lose steam anytime soon for it is backed by solid business performance.
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