Tags: GE CEO | Jeff Immelt | Bet | Investors

GE CEO Immelt: 'We Are a Good Bet for Investors Right Now'

Image: GE CEO Immelt: 'We Are a Good Bet for Investors Right Now'
General Electric Chairman and CEO Jeff Immelt

By    |   Thursday, 03 Dec 2015 07:44 AM

General Electric Chairman and CEO Jeff Immelt is very confident in his abilities to craft the company into an industrial powerhouse – and he thinks investors would be savvy to agree with him.

"When I look at the next three years, the GE team knows exactly what we have to do. We've got all the tools to do it with, and I think from a capital allocation, earnings growth, organic growth standpoint, we are a good bet for investors right now," Immelt told CNBC’s Jim Cramer.

Cramer said the company has taken several steps to transform itself from a largely financial company that made turbines, engines, locomotives and MRIs, back into a fast-growing industrial powerhouse with very little banking exposure, as it has sold off $126 billion in assets from its GE Capital business.

"GE is transforming itself into a leaner, more focused, and easier to analyze company," the "Mad Money" host said.

“Immelt attributed its success to a combination of the disposition of GE Capital occurring in a fast and valuable way, the spinoff of its credit arm called Synchrony and the fast, organic growth of its industrial business. As a result, people are able to understand the company better,” CNBC explained.

Cramer said that GE may be able to reward shareholdings with buying back an immense amount of stock and offer an even larger dividend than its current 3 percent yield.

"While the only-gas business may be tougher, the aviation business is booming, and you add all of those up and you get an industrial organic growth in the mid-single digits. That looks damn good in the environment we are in right now. So, that's what it takes," Immelt said.

Immelt’s comments to CNBC echoed his positive outlook after the release of the company’s most recent earnings.

“GE is executing and is on track to deliver on its 2015 goals," he said in a company statement.

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General Electric Chairman and CEO Jeff Immelt is very confident in his abilities to craft the company into an industrial powerhouse - and he thinks investors would be savvy to agree with him.
GE CEO, Jeff Immelt, Bet, Investors
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2015-44-03
Thursday, 03 Dec 2015 07:44 AM
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