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GE Aerospace - GE STOCK NEWS

Welcome to our dedicated page for GE Aerospace news (Ticker: GE), a resource for investors and traders seeking the latest updates and insights on GE Aerospace stock.

GE Aerospace, a segment of General Electric Company (NYSE: GE), is a global leader in the design, manufacture, and service of aircraft engines. Founded in 1892 and headquartered in Boston, GE has a rich history tied to American inventor Thomas Edison. While GE operates in multiple industries including power, renewable energy, digital industry, and additive manufacturing, GE Aerospace remains its core business.

With nearly 70,000 commercial and military engines installed worldwide, GE Aerospace generates significant revenue from the recurring service and maintenance of these engines. The company's partnership with Safran in their CFM joint venture further solidifies its leadership in aerospace propulsion.

Recent achievements for GE Aerospace include significant deals and technological advancements. Notably, GE Aerospace retained its portfolio of intellectual property related to aerospace and defense technologies after a definitive agreement with Dolby Laboratories to acquire GE Licensing. This acquisition, valued at $429 million and expected to close by the end of fiscal year 2024, highlights GE Aerospace's focus on its core aerospace and defense markets.

In another major development, GE Vernova's Onshore Wind business, a part of GE's power and renewable energy segment, announced a landmark deal with Pattern Energy. This deal involves the supply of 674 wind turbines for the SunZia Wind project, set to be the largest wind project in the Western Hemisphere. This project is a testament to GE's commitment to renewable energy and showcases its ability to deliver large-scale, high-efficiency projects.

Moreover, GE Aerospace continues to innovate with products like the 3.6-154 wind turbine, which incorporates advanced AI-trained blade manufacturing processes. This turbine is built to meet U.S. market needs and is part of GE's strategy to drive quality and reliability across its fleet.

Financially, GE Aerospace is robust, leveraging its longstanding expertise and extensive global network to maintain a strong market position. The company's continuous investments in technology, such as the new manufacturing assembly line for its Onshore Wind business in Schenectady, New York, reflect its commitment to enhancing American manufacturing and supporting climate change goals.

GE Aerospace's mission to define the future of flight and bring innovative solutions to the aerospace and defense sectors is backed by its substantial workforce of 52,000 employees globally. The company's operations aim to provide affordable, reliable, sustainable, and secure energy solutions, reinforcing its leadership in the industry.

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Oregon has launched the Oregon Capacity System (OCS), a statewide software solution developed by GE Healthcare, to manage hospital capacity in real-time. Funded by the U.S. Department of Health and Human Services, OCS aims to optimize hospital resources amid the COVID-19 crisis. The system has saved hospitals approximately $3 million and 45,000 hours of labor by automating capacity data reporting. It tracks over 7,368 beds and 800 ventilators across 60 hospitals, processing 4.2 million data points daily, enhancing decision-making and patient care.

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GE Digital has partnered with FlightSafety International to enhance pilot training using real flight data. The collaboration aims to improve safety by utilizing C-FOQA insights, which process extensive flight metrics. This data-driven training method will help pilots prepare for potential risks before they arise. FlightSafety serves over 300 operators and provides advanced training across multiple countries. This partnership marks a significant step in proactive risk mitigation in corporate aviation, allowing tailored training for various safety scenarios.

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GE Healthcare has received FDA approval to eliminate the contraindication regarding hypersensitivity to blood and blood products from the prescribing information of Optison (Perflutren Protein-Type A Microspheres Injectable Suspension). This ultrasound enhancing agent enhances the visualization of the left ventricle in echocardiograms, improving diagnostic capabilities for heart conditions. Over 3 million patients have used Optison since its approval in 1997, with no reported hypersensitivity cases related to blood products. This decision is expected to enhance workflow efficiency for clinicians.

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GE announced it received notice of an unsolicited mini-tender offer from TRC Capital to purchase up to 1,000,000 shares at $99.00 per share. This price is 4.62% lower than GE's closing price of $103.80 on September 24, 2021. GE does not endorse this offer and advises shareholders against tendering their shares due to the below-market price. The offer hinges on various conditions, including TRC securing financing. The SEC warns that mini-tender offers may catch investors off guard, leading to sales below market value.

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GE Digital has secured a $28.7M contract with the Bahrain Electricity & Water Authority (EWA) to implement an advanced software solution aimed at modernizing the Kingdom's electricity and water networks. This project includes GE's Grid Software, ensuring improved efficiency and resilience across operations. The end-to-end solution will enhance asset utilization and customer service for approximately 740,000 users, aligning with Bahrain's economic vision for sustainable development.

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GE Healthcare has launched the Definium Tempo, a new digital X-ray system aimed at assisting radiologists and technologists. This system enhances operational efficiency by automating workflow tasks, significantly reducing physical workload while allowing technologists more time with patients. Key features include Auto Positioning, Intelligent Workflow Suite, and Helix Image Processing 2.1, aimed at improving image quality and reducing errors. The system addresses common challenges faced by radiology departments, including high ‘repeat and reject’ rates, while promoting patient care.

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GE has announced its agreement to acquire BK Medical for $1.45 billion, enhancing its Ultrasound business valued at $3 billion. This acquisition aims to expand GE Healthcare's offerings into surgical and therapeutic interventions, particularly in advanced surgical visualization. BK Medical, known for its intraoperative imaging solutions, recorded double-digit revenue growth and will leverage GE's technology to enhance its Active Imaging platform. The deal is expected to close in 2022, subject to regulatory approval.

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GE Healthcare has unveiled the Revolution Ascend, featuring the Effortless Workflow AI suite designed to enhance CT exam efficiency by reducing clicks by 66%. With a new 75 cm wide-gantry, it accommodates a wider range of patients and speeds up exams by 21%. The system employs a deep neural network for TrueFidelity CT Images to provide superior clarity at low doses. The AI solutions automate tasks with impressive accuracy, improving patient care delivery while increasing operational efficiency.

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GE Current has appointed DeFazio Industries as its newest agent to enhance its lamp and ballast offerings in Virginia. DeFazio, a rapidly growing representation firm established in 2016, will also focus on promoting Current's LED technology. Chip Taylor, Current’s Chief Commercial Officer, expressed confidence in DeFazio’s ability to expand their product reach, while Rick DeFazio highlighted the importance of the partnership. This collaboration aims to leverage DeFazio's extensive experience in the electrical supply industry to benefit both companies.

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GE, Fraunhofer IGCV, and voxeljet AG have announced a partnership to develop the world's largest 3D printer for offshore wind applications, specifically for the GE Haliade-X turbine. This initiative aims to streamline the production of large turbine components, reducing mold production time from ten weeks to just two. Additionally, the project is expected to lower transportation costs and minimize the carbon footprint. The initial trials of this new technology are set to commence in Q1 2022, with early project launches anticipated in Q3 2021.

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FAQ

What is the current stock price of GE Aerospace (GE)?

The current stock price of GE Aerospace (GE) is $181.15 as of November 22, 2024.

What is the market cap of GE Aerospace (GE)?

The market cap of GE Aerospace (GE) is approximately 195.0B.

What does GE Aerospace specialize in?

GE Aerospace specializes in the design, manufacture, and service of commercial and military aircraft engines.

Who are GE Aerospace's key partners?

GE Aerospace's key partner is Safran, with whom they have the CFM joint venture for aircraft engines.

What recent deals has GE Aerospace been involved in?

GE Aerospace recently agreed to a $429 million deal for Dolby Laboratories to acquire GE Licensing and secured a landmark wind turbine deal with Pattern Energy for the SunZia Wind project.

How does GE Aerospace generate revenue?

GE Aerospace generates most of its profits from the recurring service and maintenance of its installed base of nearly 70,000 commercial and military engines.

Where is GE Aerospace headquartered?

GE Aerospace is headquartered in Boston, Massachusetts, USA.

What are some of GE Aerospace's recent technological advancements?

Recent advancements include the 3.6-154 wind turbine, which features AI-trained blade manufacturing processes for improved quality and reliability.

How many employees does GE Aerospace have?

GE Aerospace has a global workforce of approximately 52,000 employees.

What is the significance of the SunZia Wind project for GE?

The SunZia Wind project is the largest wind project in the Western Hemisphere, reinforcing GE's role in delivering renewable energy and supporting the U.S. energy transition.

What is the financial outlook for GE Aerospace?

GE Aerospace is financially robust, with continuous investments in advanced technology and manufacturing to maintain its market position.

What is GE Vernova?

GE Vernova is a planned global energy company focused on power, wind, and electrification businesses, supported by advanced research, consulting, and financial services.

GE Aerospace

NYSE:GE

GE Rankings

GE Stock Data

194.95B
1.08B
0.16%
79.05%
1.04%
Aerospace & Defense
Electronic & Other Electrical Equipment (no Computer Equip)
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United States of America
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