GE Stock Strikes A High Amid Countdown To GE Aerospace — Is It A Buy?

General Electric (GE) will soon emerge as an aerospace and defense company, shedding its diversified conglomerate past. Is GE stock a buy as investors count down to GE Aerospace?


Countdown To GE Aerospace: 11 Days

Ahead of its final breakup, GE held events in March that dug deeper into the post-split companies — GE Aerospace and GE Vernova.

On April 2, the “new GE,” GE Aerospace will emerge as a stand-alone company. It will continue to use the GE stock ticker.

Vernova, home to the gas power and wind energy business, launches the same day. It will trade under the ticker symbol GEV.

GE’s health care spinoff, GE HealthCare Technologies (GEHC), debuted last January.

In 2021, an embattled General Electric announced a three-way breakup — into independent, publicly traded aviation, health care and energy companies.

Before that, the icon of American manufacturing shed a series of assets, from lighting to locomotives.

GE Stock At Multi-Year High

Shares of General Electric are far extended from a 132.50 buy point off a three-weeks-tight pattern. That means shares are not within buy range. The stock is up 47% from an earlier, November breakout past a flat-base entry, according to MarketSurge pattern recognition.

GE stock eased a fraction Friday, while pegging a fresh 52-week high intraday. In fact, the soon-to-be aerospace stock sits at its highest level since June 2017, shortly before the company signaled a breakup amid financial troubles.

The relative strength line for GE stock continues to trend higher. The RS line, the blue line in IBD charts, tracks a stock’s progress vs. the S&P 500.

Year to date, GE stock has risen 38%. It has soared more than 96% in the past year.

The industrial giant earns an IBD Composite Rating of 94 out of 99, according to the IBD Stock Checkup tool. The rating combines key technical and fundamental metrics in a single score.

General Electric owns an RS Rating of 95, meaning it has outperformed 95% of all stocks in IBD’s database over the past year.

IBD Live: A New Tool For Daily Stock Market Analysis

GE Earnings

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