Company Update (NYSE:GE): General Electric Company Names Three New Company Officers


General Electric Company (NYSE:GE) announced the appointment of three new Company officers.

Visal Leng is President and CEO, Asia Pacific, GE Oil & Gas. With more than 20 years of Industrial experience at GE, Visal has held roles of increasing responsibility in Sales, Finance and Quality across the Plastics, Infrastructure, Water and Oil & Gas businesses primarily in Europe and Asia. Visal holds a master’s degree in civil engineering from the Ecole Spéciale des Travaux Publics of Paris, France.

Tony Mathis has been promoted to Vice President and General Manager of GE Aviation’s Military Systems Organization. Tony joined GE in 1997 after serving in the United States Air Force, where he focused on flight test and propulsion project engineering. Over the next 19 years, Tony held roles of increasing responsibility, most recently as the Senior Account Executive for GE Aviation at Boeing Commercial Airplanes in Seattle, WA. Tony has received a bachelor’s degree in mechanical engineering from Clemson University; a master’s degree in mechanical engineering from California State University, Fresno; and a master’s degree in business administration from Xavier University.

Jennifer Waldo has been promoted to Vice President Chief Human Resources Officer, GE Digital. Jennifer joined GE in 2001 as part of GE’s Human Resources Leadership Program (HRLP) and held of number of leadership roles at GE Aviation before becoming the leader of Human Resources at GE Digital. Jennifer earned her bachelor’s degree in political philosophy and her master’s degree in human resources and labor relations from Michigan State University. (Original Source)

Shares of General Electric are currently trading at $31.87, up $0.37 or 1.17%. GE has a 1-year high of $33 and a 1-year low of $27.10. The stock’s 50-day moving average is $30.45 and its 200-day moving average is $30.58.

On the ratings front, General Electric has been the subject of a number of recent research reports. In a report released today, RBC analyst Deane Dray reiterated a Buy rating on GE, with a price target of $37, which implies an upside of 17% from current levels. Separately, yesterday, Stifel Nicolaus’ Robert McCarthy reiterated a Buy rating on the stock and has a price target of $34.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Deane Dray and Robert McCarthy have a yearly average return of 3.3% and 7.8% respectively. Dray has a success rate of 69% and is ranked #1306 out of 4274 analysts, while McCarthy has a success rate of 78% and is ranked #854.

Sentiment on the street is mostly bullish on GE stock. Out of 9 analysts who cover the stock, 6 suggest a Buy rating , 2 suggest a Hold and one recommends to Sell the stock. The 12-month average price target assigned to the stock is $35.20, which implies an upside of 12% from current levels.