General Electric Company (NYSE:GE) announced today the appointment of two new Company officers. Effective August 1, GE will have 195 officers globally who lead large revenue-generating businesses or are in critical technology or functional roles, helping to drive growth.
Tim Donovan, 44, has been appointed vice president and chief financial officer of Power Generation Services – GE Power & Water. Donovan joined GE in 1993 and has held leadership roles in GE Power & Water and GE Healthcare. While at GE Healthcare, he served as CFO for Life Support Solutions and Devices – EMEA. He joined PGS in 2011 as CFO. Donovan holds a bachelor’s degree in finance from Bentley University, Waltham, MA and a master’s degree in business administration from Duke University, Durham, NC, and is a graduate of GE’s Financial Management Program.
Christine Furstoss, 51, has been appointed vice president and technical director of manufacturing, chemical and materials technologies – GE Global Research. Furstoss joined GE in 1989 and has held a series of leadership roles in GE Power & Water and GE Global Research. Most recently she was a technology director for GE Global Research focused on manufacturing & materials. She also served as senior executive of technology for Water in GE Power & Water. Furstoss holds a bachelor’s and master’s degree in materials science & engineering from Rensselaer Polytechnic Institute in Troy, NY. (Original Source)
Shares of General Electric closed yesterday at $26.12. GE has a 1-year high of $28.68 and a 1-year low of $23.41. The stock’s 50-day moving average is $26.72 and its 200-day moving average is $25.90.
On the ratings front, General Electric has been the subject of a number of recent research reports. In a report issued on July 20, UBS analyst Shannon O’Callaghan reiterated a Buy rating on GE, with a price target of $32, which represents a potential upside of 22.5% from where the stock is currently trading. Separately, on June 26, William Blair’s Nicholas Heymann reiterated a Hold rating on the stock and has a price target of $30.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Shannon O’Callaghan and Nicholas Heymann have a total average return of 17.1% and 2.0% respectively. O’Callaghan has a success rate of 79.5% and is ranked #152 out of 3721 analysts, while Heymann has a success rate of 33.3% and is ranked #2276.
Overall, 3 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 $33.00 which is 26.3% above where the stock closed yesterday.