5 Best Industrial Stocks to Buy According to Hedge Funds

In this article, we will be taking a look at the 5 best industrial stocks to buy according to hedge funds. To read our analysis of the industrials sector, you can go directly to see the 14 Best Industrial Stocks to Buy According to Hedge Funds.

5. General Electric Company (NYSE:GE)

No of Hedge Fund Holders: 61

General Electric Company (NYSE:GE) is a Massachusetts, United States-based company involved in various industries such as additive manufacturing, aviation, and renewable energy.

On May 24, GE Vernova, a unit of General Electric Company (NYSE:GE), announced that it intends to establish a new manufacturing assembly line for the company’s 6.1 MW onshore wind turbine. The company will be investing $50 million at its facility in Schenectady, New York, to achieve this goal. General Electric Company (NYSE:GE) offers an annual forward dividend yield of 0.31% as of May 25.

Vulcan Value Partners shared its outlook on General Electric Company (NYSE:GE) in its Q1 2023 investor letter. Here’s what the firm said:

“General Electric Company (NYSE:GE) was a material contributor during the quarter. With the successful spin-off of GE HealthCare in early January, the company operates in two major markets: GE Aerospace and GE Vernova. GE Aerospace powers three out of every four commercial flights. GE Vernova helps generate 30% of the world’s electricity and has a meaningful role to play in the energy transition. The company’s service activities, which are higher margin and more resilient, represent approximately 60% of revenue and 85% of its backlog. The company reported strong fourth quarter 2022 results and management’s 2023 outlook is positive.”