Stock Update (NYSE:GE): General Electric Company Appoints Four New Company Officers

General Electric Company (NYSE:GE) announced the appointment of four new Company officers. Effective January 1, 2016, GE will have 193 officers globally who lead large revenue-generating businesses or are in critical technology or functional roles, helping to drive growth.

Steven Hartman, 50, has been appointed vice president and chief technology officer, engineering – Power Services for GE Power. Hartman joined GE in 1998 and has held a series of leadership roles in GE Power. Before joining GE, he was the director of business development for Strategic Power Systems Inc. Hartman holds a bachelor’s degree in mechanical engineering from Union College in Schenectady, NY.

Danielle Merfeld, 43, has been appointed vice president, Niskayuna Technology Center and technical director of electrical technologies and systems. Merfeld joined GE in 1999 and has held technology leadership roles in GE Global Research and GE Power. She holds a bachelor’s degree from the University of Notre Dame, Notre Dame, IN and a Ph.D. from Northwestern University, Evanston, IL, in electrical engineering.

Tom Mitchell, 45, has been appointed vice president, sourcing for GE Healthcare. Mitchell joined GE in 1992 and has held a series of leadership roles in GE Aviation, Transportation, Oil & Gas and Global Growth Organization. Most recently, he served as senior executive, manufacturing—Distributed Power for GE Power. Mitchell holds a bachelor’s degree in manufacturing engineering from Boston University, Boston, MA and a master’s degree in business administration/management from University of North Carolina, Chapel Hill, NC, and is a graduate of GE’s Operations Management Leadership Program.

Uwem Ukpong, 44, joins GE as president and chief executive officer, Surface Product Company for GE Oil & Gas. Prior to GE, Ukpong worked for Schlumberger for 22 years where he held a series of leadership roles. Most recently, he was president of software integrated solutions. Ukpong’s experience in the oil industry spans a range of assignments in North America, Europe, North Africa, West Africa and Latin America, and he is a member of the Society of Petroleum Engineers. Ukpong holds a bachelor’s degree in mathematics & computer science, Federal University of Technology, Owerri, Nigeria and a master’s degree in petroleum engineering, Heriot-Watt University, Edinburgh, United Kingdom. (Original Source)

Shares of General Electric closed yesterday at $30.4, up $0.12 or 0.40%. GE has a 1-year high of $31.23 and a 1-year low of $19.37. The stock’s 50-day moving average is $30.04 and its 200-day moving average is $27.06.

On the ratings front, GE has been the subject of a number of recent research reports. In a report issued on December 7, Bernstein Research analyst Steven Winoker maintained a Buy rating on GE, with a price target of $33, which represents a potential upside of 8.6% from where the stock is currently trading. Separately, on November 30, RBC’s Deane Dray reiterated a Buy rating on the stock and has a price target of $34.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Steven Winoker and Deane Dray have a total average return of 9.2% and 3.8% respectively. Winoker has a success rate of 77.8% and is ranked #638 out of 3636 analysts, while Dray has a success rate of 67.9% and is ranked #1153.

Overall, 2 research analysts have assigned a Hold rating and 8 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 $32.20 which is 5.9% above where the stock closed yesterday.


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