General Electric (NYSE: GE) is an industrial conglomerate that is ready for a turnaround. The turnaround happen when Larry Culp was named the CEO in 2018. He executed the following tasks after he was named the CEO.
- He cut GE’s dividend to save cash.
- He unloaded the company’s stake in Baker Hughes, an oilfield services giant.
- He divested the company’s BioPharma division for $21 billion.
- He slashed the payroll by the thousands.
- He slashed the company’s debt by $25 billion from January 2019 to third quarter of 2020.
- He helped the company generate $39 billion in cash on its balance sheet on the most recent quarter.
Currently, more analysts and investors are bullish about GE stocks because GE is planning to sell its jet-leasing business, GE Capital Aviation Services, to Ireland’s AerCap Holdings NV for $30 billion. More analysts are raising the target price for GE. GE shares have gained around 34.9% over the past year. For investors interested of investing of GE stocks, this is the right time to invest now before the stock price go up further.
GE will rebound.
GE will turn around and grow.