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General Electric (GE) Arm Collaborates With Tersan Shipyard

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General Electric Company’s (GE - Free Report) business unit GE Power Conversion recently entered into a partnership with Turkey-based Tersan Shipyard to deliver the power and propulsion, vessel control systems and dynamic positioning for two ingenious Construction Service Operation Vessels (CSOV) for Dutch maritime support provider, located in Acta Marine. Financial terms of the deal were kept under wraps.

Per the deal, GE Power Conversion will supply power-dense SeaPuls LV3 family of converters which are installed in propulsion, energy storage roles and thruster drive. GE will also offer the SeaStream Dynamic Positioning (DP) system, which includes the newly launched “All Speed Wind Farm Mode”. The SeaStream DP system has recently been chosen as the DP system of choice for a huge number of offshore wind vessels.

The CSOVs can run on dual fuels of marine diesel/hydrogenated vegetable oil and methanol. Integrated with the GE Power Conversion SeaGreen battery energy storage and electric propulsion systems, the vessels will likely reduce carbon footprint.

The two newly built CSOVs will aid various projects during the construction, commissioning and maintenance of operational wind farms.

Zacks Rank & Stocks to Consider

GE currently carries a Zacks Rank #3 (Hold). Some better-ranked companies from the conglomerates sector are discussed below.

Carlisle Companies (CSL - Free Report) currently sports a Zacks Rank #1 (Strong Buy). CSL pulled off a trailing four-quarter earnings surprise of 28%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.

In the past 60 days, Carlisle’s earnings estimates have increased 14.7% for 2022. The stock has rallied 31.5% in the past six months.

Griffon Corporation (GFF - Free Report) has a Zacks Rank #2 (Buy) at present. GFF delivered a trailing four-quarter earnings surprise of 104.6%, on average.

In the past 60 days, Griffon’s earnings estimates have increased 3% for fiscal 2022 (ending September 2022). The stock has soared 41.9% in the past six months.


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General Electric Company (GE) - free report >>

Carlisle Companies Incorporated (CSL) - free report >>

Griffon Corporation (GFF) - free report >>

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