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.