GE Aerospace (GE): what is left of General Electric, and a stock that took 25 years to pass its 2000 high

General Electric spun off its transportation business, which merged with Wabtec, in 2019, GE HealthCare in January 2023 and GE Vernova in April 2024. What remains operates as GE Aerospace: it designs, builds and services jet engines, with an installed base of about 50,000 commercial and 30,000 military engines, and aftermarket services make up about 70% of revenue. In 2025 revenue was $45.9 billion, up 18%, and income from continuing operations $8.6 billion, or $8.05 a share. The stock closed at $301.13 on October 28, 2026, for a market value of about $311 billion.

Commercial Engines & Services earned a segment profit of $8.9 billion in 2025, a 26.6% margin, and Defense & Propulsion Technologies $1.3 billion, 12.3%. Customers in the United States accounted for 39.7% of revenue and Asia for 23.6%, up 49.5% in the year. Remaining performance obligations — firm orders and service contracts still to be delivered — were $190.6 billion at the end of 2025, $163.0 billion of them in services.

2026 so far

In the first nine months of 2026, revenue rose 20.3% to $39.9 billion and earnings per share from continuing operations rose to $6.44 from $5.73. In the third quarter, reported before the market opened on October 20, orders rose 49% to $19.0 billion and revenue 16% to $14.1 billion, and the company raised its 2026 adjusted earnings guidance to $8.00 to $8.10 a share, from $7.65 to $7.85. The stock fell 3.7% that day. On September 8 GE Aerospace agreed to buy Consolidated Precision Products, a maker of engine castings, for $11.75 billion, to be paid with about $7 billion of cash and new debt; the deal is expected to close in the second half of 2027.

The 2023 figure was lifted by gains on the stakes GE kept in GE HealthCare and AerCap; when those did not repeat, 2024 income fell $2.5 billion even though segment profit rose $1.6 billion. Before the spin-offs, the old conglomerate reported revenue of $156.8 billion in 2009 and a net loss of $22.4 billion in 2018, numbers that are not comparable with today’s company.

A 25-year round trip

Adjusted for stock splits and for the three spin-offs — Yahoo Finance treats each as if the shares received were reinvested in GE — the stock peaked at $287.55 on August 28, 2000, fell 90.5% to $27.36 by May 15, 2020, and did not close above its 2000 high again until September 16, 2025, 25 years later. It reached a record $381.22 on August 5, 2026 and closed 21.0% below that on October 28, though still 120.7% above its first session as a standalone aerospace company on April 2, 2024. On the same adjusted basis, $1,000 invested at the first close in the Yahoo series, January 2, 1962, would be worth about $486,000 with dividends reinvested.

At $301.13 the stock traded at 34.4 times continuing earnings of the last four quarters. The quarterly dividend is $0.47 a share in 2026, up from $0.36, after GE had cut it to $0.01 in 2019. In the nine months to September 30, 2026 the company bought back 19.1 million shares for $6.2 billion.

Who owns it, and who traded

Vanguard (8.4%), BlackRock (7.9%) and Fidelity (6.4%) are the holders above 5% in the 2026 proxy statement. Larry Culp, chairman and chief executive since October 2018, owned 1.6 million shares. Seven of the 38 investment managers this site tracks held GE at the end of June, and all seven trimmed their stakes in the quarter; Chris Hohn’s TCI held 47.4 million shares worth $17.7 billion on June 30 after a 0.2% cut, by far the largest position, while Ken Griffin’s Citadel cut 72%.

No insider bought shares in the open market in the twelve months to October 28, 2026, and Culp did not sell. Executives sold about $21.3 million, none of it reported under a 10b5-1 trading plan and $17.4 million of it in filings where they also exercised options; the largest seller was Russell Stokes, the former head of commercial engines, with $11.7 million, mostly from options expiring in 2026.

The figures above come from GE’s 10-K and 10-Q filings, its earnings release, its proxy statement and the 13F, Form 4 and Form 144 filings. They describe what happened; they are not a forecast and not investment advice.