NEW YORK, June 24, 2026, 13:03 (EDT)
- GE Aerospace traded up 2.94% at $366.96 at 1:03 p.m. EDT, after hitting a new 52-week high of $369.25 earlier in the session.
- U.S. officials are moving forward with a Turkey jet engine sale valued at over $700 million, sources told Reuters.
- GE will report its second-quarter numbers on July 16.
GE Aerospace (GE.N) climbed 2.94% to $366.96 in early afternoon trading Wednesday, pulling back a bit after reaching $369.25, the highest print on its quote page in the last 52 weeks. Shares started at $356.84, a touch higher than Tuesday’s $356.47 close.
Trump administration plans to go ahead with a deal to sell Turkey dozens of GE-made jet engines for its Kaan combat jet, Reuters said. A source put the value of the package at more than $700 million. The sale could close in the next few days, ahead of the formal notice to Congress. Representative Gregory Meeks has already raised objections in an informal review.
Turkey’s engine plan gives GE’s Defense & Propulsion Technologies unit another defense deal as the unit keeps expanding. First-quarter orders hit $6.17 billion, up 67%. Operating profit climbed 17% to $379 million. Operating profit is profit before interest and taxes.
Commercial Engines & Services remains the main profit driver. The segment, spanning spare parts and engine overhauls for airlines, brought in $8.92 billion in revenue for the first quarter and $2.36 billion in operating profit. GE reported a commercial-services backlog of about $170 billion—work booked but not yet completed.
GE CEO H. Lawrence Culp Jr. said in April that solid orders and revenue gains were “supporting double-digit growth in earnings and free cash flow.” Free cash flow, the cash left after capex, is a key metric for industrial names. GE Aerospace
The stock also got a lift from a stronger market. Wall Street’s main indexes moved higher Wednesday as oil prices slid, and industrials climbed 1.8% by late morning, Reuters said. Brian Mulberry, chief market strategist at Zacks Investment Management, said investors were moving into stocks “undervalued or a little bit overlooked.” Reuters
Judson Althoff, who runs Microsoft’s commercial business, joined GE’s board on Wednesday, the company said. CEO Culp said Althoff’s “deep experience” with tech at big firms should help GE, which is pushing artificial intelligence across the company. GE Aerospace
Focus stays on narrowbody engine competition. GE and France’s Safran run CFM International, making LEAP engines. RTX’s Pratt & Whitney goes up against them for the Airbus A320neo with its GTF engines. Reuters said in April that the GTF Advantage engine cleared European certification for A320neo.
The risk for GE is there. The company’s forecast banks on oil prices staying high through the third quarter, no recession worldwide, and steady demand for flights. But management has flagged that the second half could see a hit if spare-parts growth eases, engine repairs slow or if some spare engines ship later than expected.
GE had an Overweight consensus from analysts tracked by FactSet, with an average price target of $348.52, which was under the stock’s level by 1:03 p.m. EDT Wednesday. The company is set to release its second-quarter results before the bell on July 16.
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