General Electric (GE - Get Report) shares were down 3.6% Friday after John Inch, a Gordon Haskett analyst and prominent GE bear, published a note expressing concern about the company's cash flow problems. 

The stock is down 13% since the industrial company reported its latest quarterly results on July 31. The move derailed a rise that saw the shares jump 27% in 2019 to that date on optimism surrounding Chief Executive Larry Culp, who joined last fall. 

Haskett has a $7 price target on the company, a significant downside from the stock's $9.49 per share closing price on Thursday. GE shares were trading at about $9.23 Friday afternoon. 

"Excluding the impact of factoring, GE's first-half 2019 free cash flow has shown more substantial deterioration -- declining by greater than $2.5 billion, versus first-half 2018," Inch wrote, according to a Barron's article.

GE has more than $100 billion in debt and the company said that it expected a $1.4 billion hit to 2019 cash flow due to the troubles surrounding Boeing's (BA - Get Report) 737 Max grounding.