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General Electric Co shares were steady following a sharp decline from the previous week, which propelled the stock near six-year lows.
However, some investors still do not see enough value to justify buying the shares, which has lost some of its appeal as a blue-chip investment.
The sharp drop for the stock, which was over 40 percent in 2017, indicates that it would weigh on the interest of value players.
Shares of GE declined to $17.90, their lowest closing price since December 2011, after slipping 12.6 percent over Monday and Tuesday, their largest two-day drop since the 2008 financial crisis. The stock climbed over the rest of the week and ended Friday at $18.21 in the face of news that Flannery had purchased around $1.1 million worth of the stock.
However, GE shares have not declined enough for some investors.
Investors are sorting through changes announced by GE's new Chief Executive John Flannery, who lowered near-term profit-growth prospects, a halved dividend, and several promised divestitures.
GE currently trades at a discount compared to some firms, 16.9 times forward earnings estimates against 17.3 times for United Tech and 19 times for Honeywell.
According to Scott Schermerhorn, chief investment officer at Granite Investment Advisors, the earnings power of GE is stronger than the low expected for 2018. Schermerhorn expects GE shares discounted to other industrial firms based on enterprise value to sales comparisons.
