Previous Close | 150.19 |
Open | 157.83 |
Bid | 161.88 x 800 |
Ask | 161.92 x 1000 |
Day's Range | 152.82 - 162.30 |
52 Week Range | 76.69 - 162.30 |
Volume | |
Avg. Volume | 8,453,911 |
Market Cap | 176.946B |
Beta (5Y Monthly) | 1.24 |
PE Ratio (TTM) | 20.28 |
EPS (TTM) | N/A |
Earnings Date | N/A |
Forward Dividend & Yield | 1.12 (0.75%) |
Ex-Dividend Date | Apr 12, 2024 |
1y Target Est | N/A |
GE Aerospace (GE) has reported its first quarterly results since becoming an independent company after its spin-off from General Electric. The aerospace developer raised its 2024 profit forecast, buoyed by strong sales for jet engine parts and services. GE Aerospace shares are boosted in Tuesday's trading session after topping first-quarter earnings and revenue estimates. Argus Research President John Eade joins the Morning Brief to provide insights into GE Aerospace's performance. Eade describes the current period as "a good time right now for GE Aerospace" citing multiple tailwinds in the aviation industry — namely Boeing's (BA) production backlog and assembly concerns — coupled with the company's outstanding quarterly report, painting "a great story" for its future. Eade highlights that the separation into an independent entity allowed investors to "capture value" that was previously missing under GE's original broad business model. Shifting his focus to Lockheed Martin (LMT), Eade mentions that the aerospace manufacturer and defense contractor lacks "commercial exposure" and cannot grow as rapidly as GE Aerospace "despite the good news out of Washington" surrounding potential foreign aid packages to Israel and Ukraine. Eade ultimately recommends Lockheed Martin to investors looking for value. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith
Installed offshore wind capacity in the U.S. grew to 242 megawatt (MW) in the first quarter of the year from 42 MW in the previous quarter, the Oceantic Network said in its report, showcasing a recovery in a previously volatile industry. The offshore wind industry is expected to play a major role in helping several states and, the Biden administration meet goals to decarbonize the power grid and combat climate change. Last year, companies highlighted that offshore wind projects may not move forward unless the requirements for subsidies under the Inflation Reduction Act (IRA) are eased.
GE Aerospace (GE) first-quarter 2024 results reflect 11% increase in revenues, driven by solid performance from its Aerospace segment.