Ticker: GE General Electric Co. is set to sell its stake in aircraft leasing giant AerCap Holdings NV for approximately $2.44 billion, according to an announcement made on Monday. The move is part of General Electric's ongoing efforts to streamline its operations and focus on its aerospace business. This divestment comes as General Electric aims to become a pure aerospace play, leveraging its strengths in the industry.
GE stock has been performing exceptionally well, with a 76% rally in 2023. The stock has been flashing buy signals, indicating positive momentum for investors. By shedding its stake in AerCap Holdings, General Electric is taking further steps towards solidifying its position as a key player in the aerospace sector.
Gotham Asset Management LLC recently increased its holdings in General Electric, boosting its position by 59.8% in the first quarter. This move by the asset management firm showcases growing confidence in the company's prospects and its ability to generate returns for shareholders.