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GE Aerospace (GE) Debuts as Aviation-Focused Public Company
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GE Aerospace (GE - Free Report) emerged as a separate public company, following the spin-off of GE Vernova business from General Electric. This marks the completion of General Electric’s multi-year portfolio restructuring actions, separating into three stand-alone publicly traded companies.
Following the spin-off, General Electric started to operate as an aviation-focused company (now GE Aerospace), while GE Vernova specializes in energy transition solutions. The newly independent entities, GE Aerospace and GE Vernova, began trading on NYSE on Apr 2, 2024, under the tickers GE and GEV, respectively.
As noted, GE shareholders received one share of GE Vernova stock for every four shares of General Electric stock held on the record date for the distribution, Mar 19, 2024. The separation was carried out in a tax-efficient manner.
Over the years, GE has conducted several restructuring actions to significantly boost its businesses and financial position. Prior to the GE Vernova spin-off, the company also spun off its healthcare unit, GE HealthCare, into an independent public company in January 2023. GE’s separation into three public companies is expected to help each business to flourish through better operational focus, capital allocation policies and financial flexibility.
It is worth noting that GE Aerospace is slated to release its first-quarter 2024 results on Apr 23, 2024, before the opening bell.
Zacks Rank & Price Performance
GE currently carries a Zacks Rank #3 (Hold).
GE Aerospace has been benefiting from robust demand for commercial engines and services of late. Improved commercial services revenues, higher orders for LEAP engines and aftermarket services, along with strong operational execution, are likely to drive the company’s performance in the quarters ahead.
Image Source: Zacks Investment Research
In the past year, shares of the company have soared 40.8% compared with the industry’s 8.9% growth.
However, GE has been dealing with the adverse impacts of high cost of sales and operating expenses.
Stocks to Consider
Some better-ranked companies from the same space are discussed below.
CSL delivered a trailing four-quarter average earnings surprise of 7.6%. In the past 60 days, the Zacks Consensus Estimate for CSL’s 2024 earnings has increased 9.7%.
Griffon Corporation (GFF - Free Report) presently carries a Zacks Rank #2 (Buy). It has a trailing four-quarter average earnings surprise of 42%. The Zacks Consensus Estimate for GFF’s fiscal 2024 earnings has decreased 0.9% in the past 60 days.
Danaher Corporation (DHR - Free Report) currently carries a Zacks Rank #2. It delivered a trailing four-quarter average earnings surprise of 6.8%. In the past 60 days, the consensus estimate for DHR’s 2024 earnings has declined 2.6%.
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GE Aerospace (GE) Debuts as Aviation-Focused Public Company
GE Aerospace (GE - Free Report) emerged as a separate public company, following the spin-off of GE Vernova business from General Electric. This marks the completion of General Electric’s multi-year portfolio restructuring actions, separating into three stand-alone publicly traded companies.
Following the spin-off, General Electric started to operate as an aviation-focused company (now GE Aerospace), while GE Vernova specializes in energy transition solutions. The newly independent entities, GE Aerospace and GE Vernova, began trading on NYSE on Apr 2, 2024, under the tickers GE and GEV, respectively.
As noted, GE shareholders received one share of GE Vernova stock for every four shares of General Electric stock held on the record date for the distribution, Mar 19, 2024. The separation was carried out in a tax-efficient manner.
Over the years, GE has conducted several restructuring actions to significantly boost its businesses and financial position. Prior to the GE Vernova spin-off, the company also spun off its healthcare unit, GE HealthCare, into an independent public company in January 2023. GE’s separation into three public companies is expected to help each business to flourish through better operational focus, capital allocation policies and financial flexibility.
It is worth noting that GE Aerospace is slated to release its first-quarter 2024 results on Apr 23, 2024, before the opening bell.
Zacks Rank & Price Performance
GE currently carries a Zacks Rank #3 (Hold).
GE Aerospace has been benefiting from robust demand for commercial engines and services of late. Improved commercial services revenues, higher orders for LEAP engines and aftermarket services, along with strong operational execution, are likely to drive the company’s performance in the quarters ahead.
Image Source: Zacks Investment Research
In the past year, shares of the company have soared 40.8% compared with the industry’s 8.9% growth.
However, GE has been dealing with the adverse impacts of high cost of sales and operating expenses.
Stocks to Consider
Some better-ranked companies from the same space are discussed below.
Carlisle Companies Incorporated (CSL - Free Report) currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
CSL delivered a trailing four-quarter average earnings surprise of 7.6%. In the past 60 days, the Zacks Consensus Estimate for CSL’s 2024 earnings has increased 9.7%.
Griffon Corporation (GFF - Free Report) presently carries a Zacks Rank #2 (Buy). It has a trailing four-quarter average earnings surprise of 42%. The Zacks Consensus Estimate for GFF’s fiscal 2024 earnings has decreased 0.9% in the past 60 days.
Danaher Corporation (DHR - Free Report) currently carries a Zacks Rank #2. It delivered a trailing four-quarter average earnings surprise of 6.8%. In the past 60 days, the consensus estimate for DHR’s 2024 earnings has declined 2.6%.