Jim Cramer: GE No Longer A ‘Hedge Fund in Drag’

GE CEO Jeff Immelt has finally transformed the company back into the great industrial company it once was.
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GE (GE) - Get Report CEO Jeff Immelt has finally transformed the company back into the great industrial company it once was, as opposed to the hedge fund in drag which it became under former chief Jack Welch, said TheStreet's Jim Cramer. He added that once GE is able to escape its designation as a "systemically important" financial institution then it can return more capital to shareholders in the form of dividends and buybacks. That's why his Action Alerts Charitable Trust portfolio will continue to hold GE as the stock breaks out.

At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.