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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.

News

Assent Appoints Ann Klee to Board of Directors

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Assent Inc. appoints Ann R. Klee, an expert in environmental law and sustainability, to its Board of Directors to enhance strategic focus on supply chain sustainability solutions. Klee's vast experience in environmental law and leadership roles will drive Assent's long-term sustainable growth and success.
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GE Vernova Announces 2.4 GW Order for Pattern Energy's SunZia Wind Project

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GE Vernova's Onshore Wind business (GE) announced a record order for 674 3.6-154 wind turbines, providing 2.4 GW of power at the SunZia Wind project in New Mexico, reinforcing GE Vernova's commitment to American manufacturing. The project is expected to be the largest wind project in US history and the Western Hemisphere at over 3.5 GW total project size, bringing GE Vernova's installed base with Pattern Energy to 4.3 GW. The deal signifies a monumental investment in the U.S. wind power market and demonstrates GE Vernova's ability to deliver on its workhorse strategy in Onshore Wind. GE Vernova's 3.6-154 turbine, designed specifically for the U.S., is expected to bring the latest in innovation of turbine and blade design, reinforcing GE Vernova's focus on taking full advantage of the Inflation Reduction Act to revitalize and enhance American manufacturing. The project will be supplied through GE Vernova's nacelle facility in Pensacola, Florida, as well as tower manufacturing facilities in Belen, New Mexico, Pueblo, Colorado, and Amarillo, Texas. GE Vernova has been the number one provider of onshore wind turbine installs in the U.S. for the last five years and currently has a fleet of more than 55,000 wind turbines installed around the world.
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GE Board of Directors Authorizes Regular Quarterly Dividend

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GE (NYSE: GE) declares $0.08 per share dividend, payable on January 25, 2024, to shareholders of record on December 28, 2023, with an ex-dividend date of December 27, 2023.
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Prolec GE Invests an Additional $85 Million in Support of North American Electric Grid Goals

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Prolec GE (Ticker: PGE) plans to double its single-phase pad-mount transformer manufacturing capacity with a new facility. The company will invest $85 million to increase its manufacturing capacity in Monterrey, Mexico, reinforcing its commitment to being a strategic partner in the journey toward a sustainable energy future. Prolec GE's recent investments in support of its North American customer base exceed $145 million US.
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GE Vernova–MYTILINEOS Consortium Awarded £1bn Contract to Construct the UK’s First High-Capacity East Coast Subsea Link

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GE Vernova-led consortium to supply and construct two High-Voltage Direct Current (HVDC) converter stations for EGL1 - National Grid and SP Energy Networks joint venture. HVDC system to be based on Voltage-Sourced technology – the most advanced HVDC technology. EGL1 HVDC link will enable the transmission of renewable green energy to power more than two million homes across the UK. GE Vernova’s Grid Solutions business (NYSE: GE) and MYTILINEOS Energy & Metals (RIC: MYTr.AT, Bloomberg: MYTIL.GA, ADR: MYTHY US) (MYTILINEOS) have been awarded a £1 billion contract by National Grid Electricity Transmission and SP Transmission, part of SP Energy Networks (SPEN), for the United Kingdom’s first high-capacity east coast subsea link. The GE Vernova–MYTILINEOS consortium was selected to supply and construct two High-Voltage Direct Current (HVDC) converter stations for Eastern Green Link 1 (EGL1), a joint venture between National Grid Electricity Transmission and SP Transmission. EGL1 will oversee the construction of a 525kV, 2GW bipole Voltage-Sourced Converter (VSC) and HVDC subsea transmission cable from Torness in East Lothian, Scotland to Hawthorn Pit in County Durham, England, enabling the transmission of renewable green energy to power more than two million homes across the UK. GE Vernova, the consortium leader, and MYTILINEOS will provide the engineering works and technology for the two VSC HVDC converter stations, which form the terminals for the HVDC cable and convert the direct current to alternating current enabling the transmission of electricity into the onshore transmission network. The HVDC cable system is expected to be approximately 190km in length. VSC is the latest HVDC technology. HVDC provides the most efficient and reliable means of transmitting large amounts of power long distances subsea. The design phase will begin in January 2024. Construction will begin in 2025.
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Jason Cherry Joins Assent as New Chief Financial Officer

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Assent Inc. (Assent) appoints Jason Cherry as Chief Financial Officer (CFO) and member of the company’s leadership team. Cherry brings over 20 years of financial leadership experience from various industries, including technology and manufacturing. Assent CEO, Andrew Waitman, highlights Cherry's global experience and mission to drive innovation and efficiencies across the organization for the next stage of growth. Cherry expresses excitement to contribute to Assent's purpose-driven mission of ethical and sustainable supply chain management.
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GE Appliances Once Again Earns Top Score in Human Rights Campaign Foundation’s 2023-2024 Corporate Equality Index

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GE Appliances (GE) receives a perfect score of 100 for the sixth consecutive year on the Human Rights Campaign Foundation’s 2023-2024 Corporate Equality Index (CEI), showcasing its commitment to LGBTQ+ workplace equality. The company joins 545 major U.S. businesses that earned top marks, reflecting its dedication to non-discrimination policies, equitable benefits, an inclusive culture, and corporate social responsibility. GE Appliances' efforts in satisfying all the CEI’s criteria earned it the designation as recipient of the Equality 100 Award: Leader in LGBTQ+ Workplace Inclusion.
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GE Announces Boards of Directors for Future Independent GE Vernova and GE Aerospace

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GE (NYSE:GE) Announces Board of Directors for GE Vernova and GE Aerospace, outlining the diverse expertise and leadership experience of the newly formed boards. The press release highlights the appointment of directors for the planned independent public company GE Vernova and GE Aerospace, emphasizing their strong mix of domain expertise and diverse perspectives. This move is a significant step in the energy transition and shaping the future of flight, positioning GE Vernova as a standalone company focused on electrifying and decarbonizing the world. The announcement aims to bring the best of GE forward with compelling new thinking, reflecting a sharper, more focused mission for both independent companies.
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GE Announces Planned Spin-Off Timing Beginning of Second Quarter of 2024; Selects Listing Exchanges and Ticker Symbols for Future Independent GE Vernova and GE Aerospace

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GE plans to spin off GE Vernova and launch GE Aerospace in Q2 2024. GE Vernova shares will be listed on NYSE as 'GEV'. GE Aerospace will continue to be listed as 'GE'.
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GE Board of Directors Authorizes Regular Quarterly Dividend

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GE declares $0.08 per share dividend payable on October 25, 2023.
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FAQ

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

The current stock price of GE Aerospace (GE) is $176.93 as of November 15, 2024.

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

The market cap of GE Aerospace (GE) is approximately 191.7B.

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.

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GE Aerospace

Nasdaq:GE

GE Rankings

#56 Ranked by Market Cap
#1956 Ranked by Dividends

GE Stock Data

191.70B
1.08B
0.16%
80.36%
1.01%
Aerospace & Defense
Electronic & Other Electrical Equipment (no Computer Equip)
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United States of America
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