General Electric Company (NYSE:GE) announced the appointment of three new company officers:
Amit Kumar has been promoted to Vice President, Global Supply Chain – GE India & Southeast Asia. Amit started his GE career as the India Sourcing Leader for all GE businesses in 2009 and later got promoted in 2013 as Regional Chief Supply Chain Officer for all GE businesses for India. Amit was instrumental in creating the company’s first green-field Multi-Modal Manufacturing facility in Pune, India, which also is a global showcase for the Brilliant Factory. Prior to GE, Amit worked for more than twenty-one years in Manufacturing, Operations, Sourcing & Supply Chain roles with increasing responsibilities at Timken India, Eaton Fluid Power India and Honeywell India. Amit has a bachelor’s degree in mechanical engineering from Kamatak University in India.
Emmanuel Ligner has been appointed as CEO, Life Sciences, GE Healthcare. Emmanuel first entered the biopharma industry in Japan, having spent 12 months there intensively studying Japanese, following a year in the French Naval forces. After 10 years with Ostuka Pharmaceuticals and Abbott Japan, he moved to the UK as Vice President, Sales & Marketing, Europe for Whatman International Plc. With GE Healthcare’s acquisition of Whatman, Emmanuel joined GE’s Life Sciences business in 2008. He was previously the Global Commercial Leader in Life Sciences’ BioProcess business and, most recently, made a big impact leading the Life Sciences Core Imaging organization. Emmanuel has degrees in marketing from The University of Wales (UK) and commercial engineering from Universite de Savoie (France).
John Mansfield joined GE as Chief Digital Officer, GE Aviation. In this role, John is responsible for the technology and business growth of the Aviation digital portfolio. John joined GE following a successful career at Hitachi Limited, where he most recently served as president, general manager and chief technology officer of the Product Platform Division. John holds two bachelor’s degrees in Engineering from Vanderbilt University and an MBA from Georgetown University. He served as a Lieutenant in the U.S. Navy and had six years as a naval aviator flying the A6 Intruder.
Shares of General Electric closed yesterday at $25.71, up $0.15 or 0.59%. GE has a 1-year high of $32.38 and a 1-year low of $25.26. The stock’s 50-day moving average is $26.42 and its 200-day moving average is $28.58.
On the ratings front, GE has been the subject of a number of recent research reports. In a report issued on August 7, Cowen analyst Gautam Khanna reiterated a Hold rating on GE, with a price target of $24, which reflects a potential downside of 7% from last closing price. On July 25, Morgan Stanley’s Nigel Coe maintained a Hold rating on the stock and has a price target of $26.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Gautam Khanna and Nigel Coe have a yearly average return of 7.8% and 2.4% respectively. Khanna has a success rate of 65% and is ranked #773 out of 4628 analysts, while Coe has a success rate of 56% and is ranked #1871.
Overall, 2 research analysts have rated the stock with a Sell rating, 6 research analysts have assigned a Hold rating and 5 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 $28.25 which is 9.9% above where the stock closed yesterday.