GE image

General Electric Company (GE) Exploring Possible Sale Of Electrical Engineering Division

GE – There have been plenty of rumblings that the conglomerate is open to spinning off assets to right the ship.

As General Electric Company’s (NYSE:GE) stock price continues to lag in the midst of a boom time for the market as a whole, there has been plenty of speculation that the conglomerate is examining the possibility of breaking the band up to improve performance. A new report has emerged that suggests a sale of one major unit could happen before too long.  

Reuters has the details on a potential deal that GE is exploring.

General Electric Co (GE.N) is exploring a sale of the electrical engineering business which it acquired for $3.2 billion in 2011, as the U.S. industrial conglomerate continues to shed unwanted assets, according to four people familiar with the matter.

John Flannery, who took over as GE’s chief executive last summer, indicated to analysts and investors for the first time earlier this year that he was open to breaking up the company, and said that a spinoff of any of its units, which include power, healthcare and aviation, was possible.

GE’s acquisition of Coverteam was designed to boost its performance in a sector that it was already having substantial success in. Times have changed. GE’s energy business as a whole has taken a hit, as lessening demand for its products has had a serious impact on the company’s bottom line.

In addition to the potential sale of Coverteam, GE is also said to be looking into sales of its industrial gas engine business and its railway locomotive division, among others.

General Electric Company shares rose $0.15 (+1.00%) in premarket trading Monday. Year-to-date, GE has declined -13.68%, versus a 4.50% rise in the benchmark S&P 500 index during the same period.

GE currently has a POWR Rating of D (Sell), and is ranked #31 of 34 stocks in the Industrial – Manufacturing category.

Try Premium Today!

Get access to our daily newsletters, Best Stocks List, POWR Ratings, and much more!
Free for 14 days -- no credit card required!

Sign Up Now

GE at a Glance

GE Current POWR Rating™
Overall POWR Rating™
GE Current Price $13.88 1.76%
More GE Ratings, Data, and News

GE Price Reaction

The day of this event (Mar. 12, 2018)
GE Closing Price$15.10 1.07%
GE Volume70,226,600
18.90% from avg
Leading up to this event
GE 1-mo return1.64%
After this event
GE 1-day return3.53%
GE 3-day return4.04%
GE 5-day return6.18%

GE Price Chart

More General Electric Company Common Stock (GE) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All GE News
Page generated in 1.0975 seconds.