General Electric ( GE) Background: General Electric is one of the largest and most diversified industrial corporations in the world. GE makes and sells products for the generation, transmission, distribution, control and utilization of electricity. GE trades an average of 41 million shares per day with a market cap of $222 billion. 52-Week Range: $14.68 to $23.18 Book Value: $11.65 Price-to-Book Ratio: 1.8 Earnings Payout Percentage: 52% GE dropped more than 5% in the last month. For those who bought at the top, ouch, but I wouldn't get too excited about selling here and taking a loss. I believe GE is now on sale and ready to move higher. If GE doesn't move higher, you will "have to" settle for the oversized and relatively safe 3.2% yield. That's a big yield in a world with near zero inflation (if you think the government numbers are accurate anyway). Even after losing 5% recently, the one-year gain is over 20%. GE appears to offer much more upside. Analysts are calling for a price target of $24.86 per share. I think they have it too low, and I think a one-year price target closer to $27 is more likely. GE has beaten estimates in three out of the last four quarters, and with next year's earnings estimate of $1.71 per share, the P/E is less than 16. GE is a great name with growth and leadership for only 16 times forward earnings. Short-sellers may be paying attention to GE, but they are not shorting it, and just 0.6% of the float is short based on the last reported numbers. GE Payout Ratio TTM data by YCharts What is better than buying a bull-trending stock paying a large dividend? How about a bullish dividend-paying stock on sale? At the time of publication the author held no positions in any of the stocks mentioned.Follow @RobertWeinsteinThis article is commentary by an independent contributor, separate from TheStreet's regular news coverage.