New Multiyear High for GE from Infrastructure Forecast
General Electric Co. (NYSE: GE) has been enjoying a recovery despite what has been a period of caution for so many global corporations. In a meeting today, GE's Chairman and CEO Jeff Immelt has been talking up GE's prospects going forward. Today's presentation is from the GE Infrastructure Investor Meeting.
After having unveiled new mining initiatives earlier this week, Immelt has talked up the conglomerate's industrial organic revenue growth to about 10% after a prior forecast of 5% to 10%. GE also signaled that it will record a gain of about three-cents per share in the third quarter period due to its prior stake sale of NBC-Universal.
Shares hit $22.69 today and that is not just a high for the last 52-weeks. This is a high going back to late in 2008 when GE was in free-fall along with just about every other company as the great recession was ripping apart America.
At today's meeting the conglomerate is having presentations from executives in the following areas: Aviation, Oil & Gas, Healthcare, Energy Management, H&BS, Transportation and Power & Water.
The entire slide show can be accessed here.
Our take is simple here. This is just one more supporting argument for why GE will raise its dividend at the end of this year for 2013.
JON C. OGG
Filed under: 24/7 Wall St. Wire, Conglomerates, Infrastructure Tagged: GE