The divestment deal is currently subject to customary conditions and will likely close by third-quarter 2018.
In a bid to become a high-tech industrial company, General Electric is currently restructuring its entire business portfolio. In sync with this, the company intends to shrink exposure of its GE Capital business over time. The aforementioned spin-off will reduce the size of GE Capital’s existing asset base and thereby, make it more focused and smaller, going forward.
General Electric is poised to grow on the back of its strategic restructuring moves, strong international presence and robust end-market sales.
However, over the past month, shares of this Zacks Rank #3 (Hold) company has lost 7.9%, as against 2.2% growth registered by the industry.
Two better-ranked stocks in the same space are listed below:
Carlisle Companies Incorporated CSL carries a Zacks Rank #2 (Buy). The company generated an average positive earnings surprise of 12.85% over the trailing four quarters.
Last year, it generated $8 billion in global revenues. By 2020, it’s predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce “”the world’s first trillionaires,”” but that should still leave plenty of money for regular investors who make the right trades early.