Upcoming AWS Coverage on AMETEK Post-Earnings Results

LONDON, UK / ACCESSWIRE / May 23, 2017 / Active Wall St. blog coverage looks at the headline from General Electric Co. (NYSE: GE) as the Company announced on May 20, 2017, that in an attempt to support the delivery of Saudi Vision 2030, it will partner with the Kingdom of UAE for a range of Memorandum of Understanding (MoUs) and projects valued at $15 billion, of which almost $7 billion accounts for GE technology and solutions. These solutions will facilitate processes across multiple sectors and assist in creating a truly diverse and sustainable economic platform. Register with us now for your free membership and blog access at:

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One of General Electric's competitors within the Diversified Machinery space, AMETEK, Inc. (NYSE: AME), posted on May 02, 2017, its financial results for Q1 2017 which ended on March 31, 2017. AWS will be initiating a research report on AMETEK in the coming days.

Today, AWS is promoting its blog coverage on GE; touching on AME. Get all of our free blog coverage and more by clicking on the link below:

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The Announcement

General Electric will be partnering with the Saudi Ministry of Energy, Industry and Mineral Resources, Saudi Aramco, Dussur, and Ma'aden in the field of energy sustainability to significantly improve power generation capabilities. The agreement will provide a large-scale boost to the global industrial supply chain and introduce massive productivity and efficiency savings through digital solutions across oil and gas and mining sectors.

In the oil gas sector, Aramco and GE have signed a MoU to undertake and execute a digital transformation of Aramco's operations with the goal of generating $4 billion in annual productivity improvements. GE will deliver a private Predix Industrial IoT cloud, GE's pioneering APM, and industry-specific applications, and staff a Digital Transformation Office (DTO) with local industrial engineers, process experts and technologists.

The Company will enable local manufacturing capabilities at the GE Manufacturing and Technology Centre in Dammam, the joint venture, which will have a significant impact on both the economies of UAE and the US. GE will collaborate with Ma'aden, the leading player in UAE's mining history. GE will deliver Digital solutions to support the business in adapting to decreasing ore grades, reducing high energy and fuel costs and improving the overall efficiency of operations.

Saudi Vision 2030

Launched in April 2016 by Saudi's deputy crown prince, Mohammad bin Salman Al Saud, the plan aims at transforming the nation from its current dependency on oil revenues into a modern, thriving, entrepreneurial society. Saudi Vision 2030 has been described as a "neo-liberal blueprint" and it envisages privatization of entire sectors of the economy, cutting of subsidies, courting investors at home and abroad, and streamlining government services.

The plan focuses on transforming the nation into a global investment leader and geographic hub and the up-scaling of industrial skills and capabilities. This agreement places significant emphasis on human capital development and the digital transformation across different sectors, with the expanded application of GE's Predix platform, which utilizes cloud-based data analytics to deliver manufacturing efficiency.

GE Growth Prospects

General Electric has been executing a robust organic growth strategy by achieving operational efficiency. On May 17, 2017, the Company announced that The Forestalia Group has selected GE to supply wind turbines from its MW product range, which it will manufacture across Europe. On the same day, GE Healthcare announced a 10-year collaboration with Partners HealthCare to rapidly develop, validate, and strategically integrate deep learning technology across the entire portfolio of offerings.

Prior to the announcement, on May 16, 2017, the Company announced that it will deliver Europe's first Medium-voltage direct current link as part of the Scottish Power Energy Network's Angle-DC project in Anglesey and North Wales. The Angle-DC project aimed at demonstrating a novel network reinforcement technique where an existing 330KV AC circuit was transformed to DC operation.

Stock Performance

At the close of trading session on Monday, May 22, 2017, General Electric's stock price rose slightly by 0.46% to end the day at $28.18. A total volume of 27.78 million shares were exchanged during the session. The Company's shares are trading at a PE ratio of 26.04 and have a dividend yield of 3.41%. At Monday's closing price, the stock's net capitalization stands at $245.56 billion.

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SOURCE: Active Wall Street