Lowering Our Fair Value Estimate for GE to $29 per Share; Expect Dividend Cut
We're lowering our fair value estimate to $29 from $32 on weaker-than-expected industrial cash flow generation. GE’s dismal third quarter revealed both financial and behavioral factors that also lead us to believe the risk of a dividend cut has increased. Originally, we had four conditions that caused us to believe GE would be able to maintain its $8 billion dividend. Two of those conditions broke down in the third quarter. Management indicated that industrial cash from operations would reach on...General Electric is a technology industrial company. The company's segments include: Power, which serves power generation, industrial, government and other customers with products and services related to energy production; Renewable Energy, which engineers and manufactures energy equipment and projects, grid solutions and digital services; Aviation, which designs and produces commercial and military aircraft engines, digital components, electric power and mechanical aircraft systems; Healthcare, which provides healthcare technologies; and Capital, which provides financial products and services that build on the company's industry capabilities in aviation, power, renewables, healthcare and other activities.
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