Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

GENERAL ELECTRIC COMPANY

(GE)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

General Electric : GE ANNOUNCES EFFECTIVE DATE FOR REVERSE STOCK SPLIT

06/18/2021 | 08:25am EDT

BOSTON - June 18, 2021 - GE (NYSE:GE) announced today that it will proceed with the 1-for-8 reverse stock split previously approved by GE shareholders at the annual meeting of shareholders on May 4, 2021. GE plans to file an amendment to its certificate of incorporation to effectuate the reverse stock split after the close of trading on July 30, 2021, and GE common stock will begin trading on a split-adjusted basis on August 2, 2021.

GE Senior Vice President and Chief Financial Officer, Carolina Dybeck Happe said, 'GE has divested a number of businesses over the last several years-including nearly all of GE Capital-without any corresponding adjustments to reduce our share count. The reverse stock split will better align GE's number of shares outstanding with companies of our size and scope. It also marks another step in GE's transformation to be a more focused, simpler, stronger high-tech industrial company.'

When the reverse stock split is effective, every eight shares of GE common stock issued and outstanding or held as treasury shares as of the effective date will be automatically combined into one share of GE common stock. This will reduce the number of outstanding shares of GE common stock from approximately 8.8 billion to approximately 1.1 billion. Concurrently with the reverse stock split, GE's amended certificate of corporation will also proportionately reduce the number of shares of GE common stock authorized for issuance and reduce the par value of GE common stock to $0.01 per share.

Outstanding GE equity-based awards and shares or share units under GE benefit plans will be proportionately adjusted. No fractional shares will be issued in connection with the reverse stock split. Shareholders of record otherwise entitled to receive a fractional share as a result of the reverse stock split will receive a cash payment in lieu of such fractional shares.

GE common stock will continue trading on the New York Stock Exchange (under the symbol 'GE'), but will trade under a new CUSIP number, as well as on the London Stock Exchange (under the symbol 'GEC'), Euronext Paris (under the symbol 'GNE'), the SIX Swiss Exchange (under the symbol 'GE') and the Frankfurt Stock Exchange (under the symbol 'GEC'), but will trade under a new ISIN number starting on August 2, 2021.

Additional information concerning the reverse stock split can be found in GE's definitive proxy statement filed with the Securities and Exchange Commission (the 'SEC') on March 22, 2021, as well as on GE's Investor Relations website.

Caution Concerning Forward Looking Statements:

This document contains 'forward-looking statements'-that is, statements related to future, not past, events. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, and are subject to risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated or anticipated by such forward-looking statements. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, the risk factors as detailed from time to time in GE's reports filed with the SEC, including GE's annual reports on Forms 10-K, periodic quarterly reports on Form 10-Q, periodic current reports on Form 8-K and other documents filed with the SEC. The foregoing list of important factors is not exclusive.

About GE

GE (NYSE:GE) rises to the challenge of building a world that works. For more than 125 years, GE has invented the future of industry, and today the company's dedicated team, leading technology, and global reach and capabilities help the world work more efficiently, reliably, and safely. GE's people are diverse and dedicated, operating with the highest level of integrity and focus to fulfill GE's mission and deliver for its customers. www.ge.com

For media inquiries, please contact:

Tara DiJulio
GE
+1 202 213 6855
[email protected]Steve Winoker
Vice President, Investor Relations
617.443.3400
[email protected] business unit

Disclaimer

GE - General Electric Company published this content on 18 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 June 2021 12:24:03 UTC.


ę Publicnow 2021
All news about GENERAL ELECTRIC COMPANY
10:04aGE DIGITAL : Safety Solution Selected by Avelo Airlines to Drive Efficiency Outc..
BU
09:10aGENERAL ELECTRIC : GE Renewable Energy, partners complete successful trials in a..
PU
06:24aFACTBOX-JUGGERNAUTS OF THE SKY : How Boeing, Airbus freighters compare
RE
05:13aGENERAL ELECTRIC : GE's HA Gas Turbine Fleet Achieves 50 Customers and One Milli..
AQ
02:11aHALFORDS GROUP PLC : Annual Financial Report -2-
DJ
07/28GENERAL ELECTRIC : GE Aviation to Provide Power Distribution System for Dassault..
MT
07/28ALL IN A DAY'S WORK : How These Employees Use Their Ingenious Ideas To Create Fr..
PU
07/28GENERAL ELECTRIC : Dassault Aviation Selects GE Aviation for Electrical Power Di..
BU
07/28GENERAL ELECTRIC : GE Hitachi Awarded Long-Term Outage Services Contract by Leib..
PU
07/28GENERAL ELECTRIC : GE's HA Gas Turbine Fleet Achieves 50 Customers and One Milli..
PU
More news
Financials (USD)
Sales 2021 76 860 M - -
Net income 2021 1 123 M - -
Net Debt 2021 11 658 M - -
P/E ratio 2021 42,4x
Yield 2021 0,31%
Capitalization 115 B 115 B -
EV / Sales 2021 1,65x
EV / Sales 2022 1,59x
Nbr of Employees 174 000
Free-Float 74,3%
Chart GENERAL ELECTRIC COMPANY
Duration : Period :
General Electric Company Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends GENERAL ELECTRIC COMPANY
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 13,13 $
Average target price 14,53 $
Spread / Average Target 10,6%
EPS Revisions
Managers and Directors
H. Lawrence Culp Chairman & Chief Executive Officer
Carolina Dybeck-Happe Chief Financial Officer & Senior Vice President
Victor Abate Chief Technology Officer & Senior Vice President
Nancy Anderson Chief Information Officer & Vice President
James S. Tisch Independent Director
Sector and Competitors
1st jan.Capi. (M$)
GENERAL ELECTRIC COMPANY21.57%115 299
BERKSHIRE HATHAWAY INC.20.46%636 203
HONEYWELL INTERNATIONAL INC.8.36%159 130
SIEMENS AG13.38%125 698
3M COMPANY13.44%114 732
ILLINOIS TOOL WORKS INC.10.77%71 336