5 Best Diversified Dividend Stocks to Buy Now

4. General Electric Company (NYSE:GE)

Number of Hedge Fund Holders: 59

General Electric Company (NYSE:GE) is a Boston-based multinational company that operates in aviation, power, manufacturing, energy, and digital industries. The company’s cash position remained strong in Q4 2022 as it reported $4.6 billion in operating cash flow and its free cash flow came in at $4.3 billion. It is among the best dividend stocks on our list.

On February 10, General Electric Company (NYSE:GE) declared a quarterly dividend of $0.08 per share, which was in line with its previous dividend. The stock has a dividend yield of 0.34%, as of March 28.

General Electric Company (NYSE:GE) gained positive ratings from Street analysts due to its positive growth outlook. In March, both RBC Capital and BofA raised their price targets on the stock to $100 and $105, respectively.

The number of hedge funds tracked by Insider Monkey owning stakes in General Electric Company (NYSE:GE) grew to 59 in Q4 2022, from 53 a quarter earlier. These stakes have a total value of over $4.38 billion.

Vulcan Value Partners mentioned General Electric Company (NYSE:GE) in its recently-published Q4 2022 investor letter. Here is what the firm has to say:

“General Electric Company (NYSE:GE) recently spun off its health care businesses, General Electric HealthCare Technologies, which has leading market share positions in medical imaging products including MRI devices and CT scanners. General Electric’s remaining businesses include Aerospace and its Power and Renewables business. Aerospace is performing well and comprises the bulk of General Electric’s value in our opinion. We believe that the spin-off of General Electric HealthCare Technologies has highlighted the value of General Electric’s remaining business units. General Electric intends to spin out its Power and Renewables business unit early in 2024.”