General Electric Company (NYSE:GE) announced that it has completed the previously announced sale of its European, Middle East and Africa (EMEA) Commercial Distribution Finance (CDF) business to Wells Fargo, representing aggregate ending net investment (ENI) of approximately $0.8 billion as at the end of the second quarter of 2016.

This closing represents the final component of the previously announced agreement to sell GE Capital’s global CDF, North American Vendor Finance and Corporate Finance businesses to Wells Fargo, amounting to a total ENI of approximately $30 billion.

“We’re pleased that CDF will continue to serve customers as a global franchise,” said Rich Laxer, chairman and CEO of GE Capital. “This closing also brings us nearer to the completion of our plans to sell most of the assets of GE Capital.”

As previously announced, GE has embarked on a strategy to create a simpler, more valuable company by reducing the size of its financial businesses and by focusing on continued investment and growth in its world-class industrial businesses. GE will retain the financing businesses that relate directly to GE’s industrial businesses.

Since the April 2015 announcement, GE Capital has signed agreements for the sale of approximately $193 billion of businesses and has closed approximately $175 billion of those transactions.  GE Capital plans to have largely completed the process of selling approximately $200 billion of businesses by the end of 2016 and believes it is on track to deliver approximately $35 billion of dividends to GE under this plan. (Original Source)

Shares of General Electric currently trading at $29.61, down $0.01 or -0.02%. GE has a 1-year high of $33 and a 1-year low of $26.22. The stock’s 50-day moving average is $30.41 and its 200-day moving average is $30.50.

On the ratings front, GE stock 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 implies an upside of 29% from current levels. Separately, on September 7, Bernstein’s Steven Winoker maintained a Hold rating on the stock.

According to, 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 1.7% and 9.7% respectively. Heymann has a success rate of 48% and is ranked #2094 out of 4197 analysts, while Winoker has a success rate of 77% and is ranked #597.

Overall, 2 research analysts have rated the stock with a Sell rating, 4 research analysts have assigned a Hold rating and 4 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 3.5% above where the stock opened today.