NEW YORK, June 24, 2026 — Shares of GE Aerospace (GE) climbed 2.94% to $366.96 in afternoon trading Wednesday, after reaching a fresh 52-week high of $369.25 earlier in the session. The rally followed reports that U.S. officials are advancing a plan to sell Turkey jet engines valued at over $700 million.
According to sources cited by Reuters, the Trump administration intends to proceed with a deal to supply GE-made engines for Turkey’s Kaan combat jet. The package, worth more than $700 million, could close within days, ahead of formal notification to Congress. Representative Gregory Meeks has raised objections during an informal review.
The potential sale provides a significant boost to GE’s Defense & Propulsion Technologies unit, which has been expanding rapidly. In the first quarter, the unit reported orders of $6.17 billion, a 67% year-over-year increase. Operating profit for the segment rose 17% to $379 million, reflecting strong demand for military engines and propulsion systems.
While defense is a growth driver, GE’s commercial engine business remains the primary profit center. The Commercial Engines & Services segment, which includes spare parts and overhaul services for airlines, generated $8.92 billion in revenue and $2.36 billion in operating profit in Q1. The company’s commercial services backlog stood at approximately $170 billion, representing work booked but not yet completed.
CEO H. Lawrence Culp Jr. said in April that the company’s solid orders and revenue gains are “supporting double-digit growth in earnings and free cash flow.” Free cash flow, a key metric for industrial companies, measures cash left after capital expenditures.
The broader market also contributed to GE’s gains. Wall Street’s major indexes moved higher Wednesday as oil prices declined, with the industrial sector rising 1.8% by late morning. Brian Mulberry, chief market strategist at Zacks Investment Management, noted that investors are rotating into stocks that are “undervalued or a little bit overlooked.”
In a separate announcement, GE said Judson Althoff, who leads Microsoft’s commercial business, joined its board of directors. Culp said Althoff’s “deep experience” with technology at large enterprises will help GE as it integrates artificial intelligence across its operations.
Investors are also focused on the competitive landscape for narrowbody engines. GE’s CFM International, a joint venture with France’s Safran, produces the LEAP engine, which competes with Pratt & Whitney’s GTF engines for the Airbus A320neo. Reuters reported in April that the GTF Advantage engine received European certification for the A320neo.
Despite the positive momentum, GE faces risks. The company’s forecast assumes oil prices remain elevated through the third quarter, no global recession, and steady air travel demand. Management has cautioned that the second half could be affected if spare-parts growth slows, engine repair volumes decline, or if certain spare engine shipments are delayed.
Analysts tracked by FactSet maintain an Overweight consensus on GE, with an average price target of $348.52, below the stock’s current level. The company is scheduled to report second-quarter results before the market opens on July 16.
