GE to Transfer Jet Engine Manufacturing Technology to India

On June 7, 2023, General Electric (GE) announced that they have been granted permission by the US government to transfer their jet engine manufacturing technology to India. This move will see GE team up with Hindustan Aeronautics Limited (HAL), a government-owned company, to co-produce jet engines for India’s fighter jet program.

The agreement is expected to be made public during Indian Prime Minister Narendra Modi’s upcoming visit to the US. The deal is set to benefit around 500-600 Indian micro, small, and medium enterprises (MSMEs). Currently, the specifics of the technology transfer, timelines, and payment arrangements are being discussed, and the final agreement is expected to be signed during Modi’s visit to the US.

HAL’s existing engine division in Koraput, Odisha, is being considered as the location for co-production. Interestingly, this is not the first time GE and HAL have tried to strike a deal. A similar deal fell through in 2012 because the Indian government wanted more in terms of technology transfer. However, sources suggest that they have now reached an agreement on higher levels of technology transfer, making India the only US ally with such a deal.

The deal will require approval from Congress, but it has already reportedly received high-level political approval. Overall, this agreement is a significant step towards strengthening the relationship between the US and India in the field of technology and manufacturing.

General Electric Company

GE

Strong Buy

Updated on: 07/06/2023

Price Target

Current $106.08

Concensus $95.88


Low $55.00

Median $94.50

High $140.00

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Analyst Ratings

Analyst / firm Rating
Citigroup Sell
RBC Capital Sell
Deutsche Bank Sell
Barclays Sell
UBS Sell

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GE Stock Update: Positive Earnings Growth Expected Over Next 5 Years

On June 7, 2023, General Electric (GE) opened at a price of 106.59 and traded within a range of 105.65 to 107.33. The total volume of shares traded was 7,263,971, and the market capitalization of GE was $115.2B. GE had a strong earnings growth of 91.19% last year, but this year’s earnings growth has decreased by 21.83%. However, the company is expected to have a positive earnings growth of 8.50% over the next five years. The P/E ratio of GE is 14.6, indicating that the stock is undervalued. In comparison to other companies in the industrial machinery industry, GE performed relatively well on June 7, 2023, with a price increase of 1.08%. GE is expected to report its next earnings on July 25, 2023, with an EPS forecast of $0.45. As a producer manufacturing company in the industrial machinery industry, GE has faced challenges in recent years but has been working to turn around its operations and focus on its aviation and healthcare businesses. With positive earnings growth expected over the next five years, GE may be a good investment opportunity for those looking for a long-term investment in the industrial machinery industry.

GEs Diverse Portfolio Drives Positive Stock Performance with Median Target Price of $109.00

General Electric Co, or GE, is a global conglomerate that operates in various industries, including aviation, healthcare, renewable energy, and power. As of June 7, 2023, GE’s stock performance has been positive, with a median target price of $109.00, according to 17 analysts offering 12-month price forecasts. This represents a +2.74% increase from the last price of $106.09.


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