5 Best Industrial Stocks To Buy Now

In this article, we discuss 5 best industrial stocks to buy now. If you want to read about some more industrial stocks, go directly to 13 Best Industrial Stocks To Buy Now.

5. General Electric Company (NYSE:GE)

Number of Hedge Fund Holders: 49   

General Electric Company (NYSE:GE) operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It is one of the best industrial stocks to invest in. Reports indicate that General Electric Company (NYSE:GE) plans to restructure and resize its business. It is laying off workers at its inland wind unit as a part of the plan. The firm recently notified its workers in North America, Latin America, the Middle East, and Africa about the cuts and further plans to cut the unit’s onshore wind workforce in Europe. 

On August 03, investment advisory Barclays kept an Overweight rating on General Electric Company (NYSE:GE) stock and lowered the price target to $78 from $81. Analyst Julian Mitchell issued the ratings update. 

Among the hedge funds being tracked by Insider Monkey, London-based investment firm Eagle Capital Management is a leading shareholder in General Electric Company (NYSE:GE), with 13 million shares worth more than $834.6 million. 

In its Q2 2022 investor letter, Longleaf Partners, an asset management firm, highlighted a few stocks and General Electric Company (NYSE:GE) was one of them. Here is what the fund said:

“General Electric Company (NYSE:GE) – Aviation, Healthcare and Power conglomerate GE was punished in the quarter amid top-down economic fears for this collection of seemingly cyclical businesses. However, the market is not giving the company credit for the material improvements CEO Larry Culp has made in his tenure. The balance sheet today is stronger than it has been in a very long time, and each of the three primary business segments each have strong paths to increasing earnings, regardless of the economic environment. Healthcare has historically not been a cyclical business. While Aviation typically has some economic sensitivity, the business still has a strong COVID rebound tailwind that should continue even in an uncertain environment. Power is a less cyclical business, and GE maintains a steady business servicing approximately one-third of the world’s electricity. GE is another example of strong insider buying indicating management’s confidence in the business, while the company also began buying back discounted shares. GE is still on track to break the company into three separate businesses, and we believe this will help the market properly weigh the value of each core segment.”