General Electric Company (NYSE:GE) announced the appointment of four new Company officers.
Ramesh Singaram has been promoted to Vice President, Commercial for GE’s Power Services business. Ramesh joined GE in 1994 and has been promoted through a series of sales jobs at GE Power over his 22 years at the company. Ramesh earned a bachelor’s degree in mechanical engineering from University of Teknologi in Malaysia.
Wouter Van Wersch has been promoted to a company officer in his current role as President & CEO, GE ASEAN. Wouter joined GE in 2015 after the acquisition of Alstom’s Power & Grid businesses. Prior to joining GE, Wouter spent nine years at Alstom where he held a series of leadership positions in Europe and Asia, most recently as senior vice president Asia Pacific. Wouter also held a number of sales and marketing roles at Alcatel, Airbus and Vivendi. He earned a master’s degree in business administration from the Erasmus University in Rotterdam, Netherlands.
Brian P. Ward has been promoted to a company officer in his current role as Managing Director, Global Markets for GE Energy Financial Services in GE Capital. With more than 34 years at GE, Brian has held leadership positions in finance, risk, quality and global markets. Brian earned a bachelor’s business administration from State University of New York in Oswego, NY.
Thomas J. McGuinness has joined GE as Vice President and Chief Strategy & Commercial Officer, GE Healthcare, where he will oversee strategy, marketing, commercial, and communications for the business. Prior to joining GE, Tom was CEO of PatientPoint and general manager of Medtronic’s global biologics business. Before that, he was a partner at McKinsey & Company in its Chicago Office. Tom earned a bachelor’s degree from Northwestern University, a master’s degree from Stanford University, and a master’s degree in business administration with distinction from Kellogg Graduate School of Management. (Original Source)
Shares of General Electric closed last Friday at $29.68, down $0.07 or -0.24%. GE has a 1-year high of $33 and a 1-year low of $24.26. The stock’s 50-day moving average is $30.77 and its 200-day moving average is $30.50.
On the ratings front, GE has been the subject of a number of recent research reports. In a report issued on September 8, William Blair analyst Nicholas Heymann reiterated a Buy rating on GE, with a price target of $38, which represents a potential upside of 28.0% from where the stock is currently trading. Separately, on September 7, Bernstein Research’s Steven Winoker maintained a Hold rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Nicholas Heymann and Steven Winoker have a total average return of 1.8% and 8.9% respectively. Heymann has a success rate of 48% and is ranked #1976 out of 4163 analysts, while Winoker has a success rate of 68% and is ranked #644.
Overall, 2 research analysts have rated the stock with a Sell rating, 4 research analysts have assigned a Hold rating and 6 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $30.50 which is 2.8% above where the stock closed last Friday.