General Electric (GE) is moving fast to reach its $20 billion divestiture goal the company put on the table at the end of last year. The industrial company yesterday announced the sale of its Distributed Power business, which signals yet another milestone in General Electric's restructuring. Though investors don't have much love for the industrial company right now, I am a buyer at new 52-week lows. An investment in General Electric at this point yields 3.8 percent.
Stocks sold off sharply on Monday over fears of an escalating trade warbetween the United States and China. Major stock market indices such as the Dow Jones Industrial Average and S&P 500 tumbled more than 1 percent yesterday. General Electric couldn't escape the pull, with shares slumping more than 2 percent on Monday. Year-to-date, General Electric's share price has dropped ~27 percent.
