5 Best Dividend Stocks on Robinhood

4. General Electric Company (NYSE: GE)

Number of Hedge Fund Holders: 69
Dividend Yield: 0.30%

Boston-based digital industrial firm General Electric Company (NYSE: GE) ranks 4th in our list of the 10 best dividend stocks on Robinhood. The quarterly dividend on GE stock is just $0.01 per share, yielding a modest 0.4%. On the other hand, General Electric Company may be an outstanding dividend growth stock for long-term investors. The company offers industrial products and services that range from medical imaging, aircraft engines, oil and gas production equipment, and power generation tools. In March, GE announced a $30 billion merger of its aircraft leasing unit with Dublin-based aircraft leasing company AerCap Holdings N.V. (NYSE: AER), with the proceeds going toward debt reduction.

General Electric Company (NYSE: GE) has a market cap of $116 billion. General Electric’s consolidated revenues in the first quarter were $17 billion, down 12.2% year over year from $19.5 billion in 2020. Shares of GE surged 141% over the past twelve months.

At the end of the fourth quarter of 2020, 69 hedge funds in the database of Insider Monkey held stakes worth $5.68 billion in General Electric Company (NYSE: GE) which is an increase from 45 hedge funds in the previous quarter holding stakes worth $2.75 billion.

In its Q1 2021 investor letter, Longleaf Partners Fund highlighted a few stocks and General Electric Co (NYSE:GE) is one of them. Here is what the fund said:

“General Electric (GE) (22%, 1.50%), the revitalized Aviation, Healthcare and Power conglomerate, was a top contributor following on its strong 4Q 2020 performance. Fourth-quarter Healthcare results were excellent, with revenues up 6% year-over-year (YoY), operating margins up 3% to 20% and strong FCF conversion. The Power and Renewables segment improved margins due to strength from gas plant services. With flight traffic increasing, Aviation appears likely to begin a multi-year recovery in the second half of this year. GE also swapped its aircraft leasing operations to AerCap for a 46% stake in the combined company, intelligently wrapping up its previously troubled GE Capital financing operations and further decreasing overall leverage. We continue to be impressed by the turnaround work of CEO Larry Culp, and the stock remains discounted against the quality of the three core business segments.”