GE - Here's Why GE Aerospace Stock Soared 24.6% in the First Half of 2024
2024-07-16 10:48:29 ET
The stock started 2024 as General Electric but is now GE Aerospace (NYSE: GE) . The change of name reflects the spin-off of GE Vernova in early April. No matter which way you look at it, GE stock was up 24.6% in the first half, according to data provided by S&P Global Market Intelligence .
The exceptional performance is due to two factors. First, the successful spin-off of GE Vernova helped dispel any fears over the matter. Second, GE Aerospace has excellent earnings momentum, and management has already raised its earnings guidance this year based on a better profit margin outlook.
GE Aerospace has two segments: commercial engines and services (CES) and defense propulsion technologies (DPT). As you can see below, the hike in full-year expectations is due to the CES segment. DPT's operating profit expectations remain at $1 billion to $1.3 billion.
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Here's Why GE Aerospace Stock Soared 24.6% in the First Half of 2024