Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, November 12, 2021

Article Excerpt

GENERAL ELECTRIC CO., $107.59, New York symbol GE, remains a hold. The conglomerate now plans to break itself up into three separate, publicly traded companies. In early 2023, GE will hand out shares its healthcare business, which makes X-ray equipment, MRI and ultrasound scanners, as a tax-deferred dividend. The company will retain a 19.9% stake in this business. The healthcare business had revenue of $18 billion in 2020. GE will also combine its renewable energy and power businesses into a single entity. Its products include turbines and related equipment for gas-fired and nuclear power plants, plus equipment for wind farms. It will then spin off 100% of this business to shareholders in early 2024. Revenue from this business totalled $33.3 billion in 2020. The remaining firm will focus on aviation equipment, such as jet engines and aircraft electronics. Its revenue was $22 billion in 2020. In all, GE expects to incur $2 billion in one-time expenses related to the plan. It also anticipates roughly $500…