General Electric Company GE recently announced a safety and fleet modernization partnership program with Flexjet, wherein both the companies will work on upgrading and expanding the latter’s flight data monitoring capabilities. Notably, the partnership will enhance Flexjet’s flight operations quality assurance (FOQA) program by leveraging GE’s flight safety analysis services with quick access recorders (QARs) and cellular data services.
Leveraging Industrial Internet, GE Aviation’s FOQA, cellular data services and GE joint-venture partner Avionica’s wireless mini-QAR technology offer airline operators actionable insight to identify and eliminate possible safety hazards in flight operations. Notably, powered by the Event Measurement System, GE Aviation’s flight analytics service helps in integrating several data sources, including weather, flight information, flight plans, navigation, apart from other operational data.
Notably, the collaboration will enable Flexjet’s fleet of aircraft to transmit flight data wirelessly upon touchdown on an instant basis. As a matter of fact, this will facilitate real time analysis by Flexjet’s data analyst team, thus boosting the company’s safety management system.
Existing Business Scenario
General Electric intends to become more competent by focusing on core businesses. In June 2018, the company announced its intention to become a high-tech industrial company focused on Aviation, Power and Renewable Energy. However, a weakening Power business remains a key concern.
Notably, the Zacks Rank #3 (Hold) company’s share price has increased 5.1% over the past three months compared with 0.8% growth recorded by the industry.
Stocks to Consider
Some better-ranked stocks in the same space are Carlisle Companies Incorporated CSL, Honeywell International Inc. HON and ITT Inc. ITT. While Carlisle sports a Zacks Rank #1 (Strong Buy), Honeywell and ITT carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Carlisle outpaced estimates thrice in the preceding four quarters, the average earnings surprise being 19.07%.
Honeywell surpassed estimates in each of the preceding four quarters, the average positive earnings surprise being 3.50%.
ITT outpaced estimates in each of the trailing four quarters, the average positive earnings surprise being 7.02%.
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