Boston, MA 06/19/2013 (wallstreetpr) – The share prices of General Electric Company (NYSE:GE) had surged by 2.36 percent to close at $24.33 per share for the end of last trading session on Tuesday. The shares of the company had been trading in the range of $23.77 to $24.45 per share during the day, thereby hitting new peaks. The shares of General Electric Company (NYSE:GE) had thus readjusted the 52 week high price level to $24.45 per share and the 52 week low price level of the company is at $19.29 per share.
The Chief Executive Officer, Jeff Immelt of General Electric Company (NYSE:GE) had recently discussed the details of Industrial Internet project of the company at All Things Digital Conference. The massive expansion of this project would result in higher levels of cost savings through waste reduction and maximization of use of the critical machines.
Further, General Electric Company (NYSE:GE) had also announced the hiring of thousands of engineers near San Francisco in this move to connect everything from jet engines to medical imaging devices to the Web and thereby help the customers to run their equipments efficiently. This Industrial Internet project would thereby result in building of large number of networks which would harvest loads of information from the commercial machines and would thereby enable the customers to analyze such reams of information.
Such positive information on the Industrial Internet project had led the shares of General Electric Company (NYSE:GE) to touch new peaks on Tuesday. General Electric Company (NYSE:GE) had witnessed the trade of 72.77 million shares on Tuesday, while the average trading volume for the company is at 38.86 million shares per day. The company presently holds 10.34 billion shares outstanding in the market with an institutional ownership of 56 percent of its holdings.
