GE Aerospace, Kratos secure US Air Force engine contract
GE Aerospace and Kratos Defense & Security Solutions said their GEK800 engine received U.S. military designation F143-ZZ-100 and won a U.S. Air Force engineering, manufacturing and development contract.
GE Aerospace (NYSE: GE ) stock edged lower in Monday’s premarket trading after the company announced a key milestone for a defense engine program. S&P 500 futures were flat, pointing to a steady broader market ahead of the open. The modest decline appears to be a mild pullback near recent highs. GE Aerospace, Kratos Expand Defense Push GE Aerospace and Kratos Defense & Security Solutions Inc.
S. military designation F143-ZZ-100. S. Air Force engineering, manufacturing and development contract.
The GEK800 will serve as a second-source propulsion system for the Joint Air-to-Surface Standoff Missile, or JASSM. The companies are developing small, lower-cost turbofan engines for cruise missiles, collaborative combat aircraft and other uncrewed aerial vehicles. The GEK800 is an 800-pound-thrust turbofan. Technical Analysis GE Aerospace remains in a longer-term uptrend.
43. 44. The broader trend remains constructive. The 20-day SMA is above the 50-day average, while the 50-day SMA remains above the 200-day average following a golden cross in June.
However, short-term momentum has cooled. The MACD is below its signal line, while its histogram is negative. That suggests buying momentum has weakened after the stock’s recent advance. 84.
That level could serve as resistance if the stock resumes its climb. 50. 73. Recent analyst actions include Bernstein raising its price forecast to $421 with an Outperform rating.
JPMorgan raised its forecast to $400 with an Overweight rating, while RBC Capital maintained an Outperform rating and $400 forecast. 28. 29. The rankings point to strong momentum and quality.
However, the low value score highlights the stock’s premium valuation. Top ETF Exposure GE Aerospace is a major holding in several industrial and aerospace-focused exchange-traded funds. 85% weighting in GE. 38% weighting.
As a result, significant flows into or out of these ETFs can affect demand for GE shares. 75 in Monday’s premarket trading, according to Pro data. Photo via Shutterstock Read Also: Trump’s Trillion—Dollar Defense Push Could Be a Boon for Lockheed, RTX, Boeing and Northrop