Company Name: General Electric
Ticker Symbol: GE
Market Sector: Industrials
A Boring stock may no longer be so boring after all……
I first wrote about this boring stock back in 2013 and it may have taken a few years to come to fruition….. but now, this stock has finally made a move and is showing new life.
General Electric (GE) has been restructuring to move out of the finance business (GE Capital) and focus more on diversified industrial operations, including power, water, health along with oil and gas.
The latest headline on Friday, April 10th announced the start of selling off assets will unlock $90 billion to benefit the shareholders in form of dividends and stock buybacks. What is not to like as an owner of GE stock!
The stock price of General Electric (GE) climbed to a total return of 9% Year-to-date, outperforming both the S&P 500 an Industrial sector. It pays to know the companies you are invested in because many institutions did not own much of GE stock due to lackluster performance of prior years. I do believe that changed on current announcement.
Stock price of $27.78 now has a fair value price of $30.00. The last time GE was at $30.00 was back in 2008.
Good luck and know what you are invested in.
Here is a RealTime Snap Shot of GE: