Industrials
GE's 2011 Outlook: Back To Growth (GE, BRK-A, CMCSA)
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General Electric Co. (NYSE: GE) is setting its 2011 goals in an analyst and investor meeting today in his presentation called the “GE Annual Outlook Investor Meeting.” GE just recently hiked its dividend and CEO Jeff Immelt continued to maintain that GE can do share buybacks and that it can make strategic acquisitions on top of already announced deals. Immelt did note that he is happier with the current portfolio than he has been in his entire tenure.
General Electric is now one of our “Ten Stocks To Own for the Next Decade” and the company keeps adding to why that is the case.
The Q4 guidance was unchanged and Immelt called for good earnings 2010 to 2012 with accelerated growth into 2012. As seen last week, GE is looking for GE Capital to remain solid despite it shrinking that side of the portfolio.
Immelt sees industrial growth returns in 2011, although it will change the financial reporting to highlight operating earnings outside of rising pension costs.
An interesting take is that Immelt noted that the Berkshire Hathaway Inc. (NYSE: BRK-A) stake of preferred shares will be retired no later than October.
The NBC Universal deal with Comcast Corporation (NASDAQ: CMCSA) is still expected to close this year.
The main message Immelt was discussing today was growth. He went as far as to say that GE is back on the offense.
The full Immelt presentation slides can be seen here.
GE shares closed up 0.4% at $17.69 this Tuesday and its 52-week trading range is $13.75 to $19.70.
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JON C. OGG
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