Hey Steven,
GE has been a dog for years now. The reason why it is doing its reverse split is to reduce its share count to be inline with others in the industry. However, it doesn't impact the fundamentals of the company in any way. Fundamentals that have been deteriorating for years. The first sign came with a dividend cut a few years ago as margins compressed, it was highly indebted and cash flow was dropping.
The company simply took too long to adapt and starting selling parts of the company. This is no longer the GE of 10-20 years ago. It remains a speculative turnaround story but there is plenty of negative sentiment that still surrounds the company. It remains one of the more expensive stocks based on historical and forward earnings and its dividend yield is paltry when compared to cheaper peers like Siemens, Honeywll and 3M - it also has the highest debt profile among its peers.
I used to be a shareholder of GE but saw the writing on the wall a few years ago and got out at he $20 range. I just didn't see much upside to it and after looking into it today, not much has changed to sway my opinion. It still has plenty of issues to work through and that debt load continues to be an albatross. I'm not saying it can't be successful and turn it around, but its just not one I would be looking to get back into. I'd need to see that debt level come down materially and see better all-round execution. Of note, it likely was a value play in the mid-single digits, but as mentioned it looks expensive now after the recent rebound.
Mat