General Electric’s GE unit, GE Gas Power (a part of GE Vernova, the combined operations of Power and Renewable Energy), acquired industrial automation, controls system and safety system solutions provider, Nexus Controls, from Baker Hughes. The acquisition is aligned with GE’s commitment to invest in leading controls technology and expertise to enhance customer experience.
The acquisition enables GE Gas Power to create a single, full-service controls business line for further development of GE’s proprietary Mark Vle controls systems platform. It will also help with the implementation of the OnCore system, as well as streamline and improve the delivery and service of controls offerings for customers.
The acquisition will benefit GE Gas Power’s customers with end-to-end support, such as consistency and efficiency across both new and serviced units, as well as a comprehensive lifecycle strategy to support their fleet’s controls needs. The acquired entity will be headed by Mani Elango within GE Gas Power. GE will continue to invest in its Mark VIe controls product line as well as other systems and related products.
General Electric Company Price
General Electric Company price | General Electric Company Quote
Zacks Rank & Other Key Picks
General Electric presently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks worth considering are as follows:
Deere & Company DE currently sports a Zacks Rank #1 (Strong Buy). The company pulled off a trailing four-quarter earnings surprise of 4.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
Deere has an estimated earnings growth rate of 31% for the current fiscal year. The stock has gained 16.7% in the past six months.
Ingersoll Rand IR presently flaunts a Zacks Rank #1. The company delivered a trailing four-quarter earnings surprise of 8.5%, on average.
Ingersoll Rand has an estimated earnings growth rate of 7% for the current year. The stock has rallied 24.2% in the past six months.
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