GE Aerospace (NYSE:GE) is among the 10 Best Aerospace and Defense Stocks to Buy According to Hedge Funds. On Sunday, the company’s CEO, Larry Culp, described China’s plan to acquire 200 Boeing jets as a significant step towards reopening sales in the country.
During the interview with CNBC in Rio de Janeiro, Culp said that he was confident about further aircraft engine orders from the Asian country after President Trump’s visit to Beijing last month secured order commitments for its manufacturing partner.
The Chinese president, Xi Jinping, has been invited by President Trump to the White House for a visit on September 24.
In other news, GE Aerospace secured an official order in late May to provide propulsion power for the Navy’s ocean surveillance ships, T-AGOS. The agreement will include an LM2500+G4 marine gas turbine engine placed in a composite enclosure alongside an associated generator for the USNS Don Walsh ship, currently under construction in Mobile, Alabama.
As of the close on June 5, Wall Street has a Strong Buy rating on the stock with an average share price upside potential of 9%.
GE Aerospace is a global aerospace propulsion, services, and systems company with an installed base of around 30,000 military and 50,000 commercial aircraft engines. It operates through two segments: Commercial Engines & Services (CES) and Defense & Propulsion Technologies (DPT).
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