5 Best Stocks That Will Benefit from Biden’s $6 Trillion Plan

3. General Electric Company (NYSE: GE)

Number of Hedge Fund Holders: 68    

General Electric Company (NYSE: GE) is a Boston-based company that makes and sells consumer electronics, energy solutions, and health products. It was founded in 1892 and is ranked third on our list of 10 best stocks that will benefit from Biden’s $6 trillion plan. The company’s shares have returned more than 77% to investors in the past year. With the Biden admin pushing clean energy, the firm has stepped up investments in renewable energy, including wind, hydro, and solar solutions. 

On June 3, investment advisory UBS reiterated a Buy rating on General Electric Company (NYSE: GE) stock with a price target of $17 on the back of the assessment of strong fundamental business drivers for the Boston company in the long run. 

At the end of the first quarter of 2021, 68 hedge funds in the database of Insider Monkey held stakes worth $6.1 billion in General Electric Company (NYSE: GE), down from 69 in the previous quarter worth $5.6 billion.

In its Q1 2021 investor letter, Vulcan Value 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 is outperforming our expectations for 2021 as the economic recovery is occurring faster than expected. We are particularly pleased with its free cash flow generation. We are happy to own it in our portfolio.”