5 Best Stocks Under $50

2. General Electric Company (NYSE: GE)

Number of Hedge Fund Holders: 68

General Electric Company (NYSE: GE) is a high-tech industrial company operating across the globe. The company offers heavy-duty and aero-derivative gas turbines for utilities, independent power producers, and industrial applications, among other products and services. It ranks 2nd on our list of the best stocks under $50.

On July 1st, Citigroup commented on General Electric Company (NYSE: GE), saying that the company was making progress on its turnaround plan, and maintaining its Buy rating on the stock alongside its $17 price target. General Electric Company (NYSE: GE) is also the company making engines for both Boeing and Airbus jets, and hence the stock rallied in light of United Airlines’ mass order of over 200 of these jets.

UBS also has a Buy rating on General Electric Company (NYSE: GE) with a $17 price target, with analyst Markus Mittermaier expecting adjusted free cash flow for the company to be $6.4 billion next year and $8.6 billion in 2023. In the first quarter of 2021, General Electric Company (NYSE: GE) had an EPS of $0.03, beating estimates by $0.02. The company’s revenue was $17.12 billion, missing estimates by -$363.49 million, and it has a gross profit margin of 16.98%. The stock has also gained 17.61% in the past 6 months and 27.6% year to date.

As of the end of the first quarter of 2021, 68 hedge funds out of the 866 tracked by Insider Monkey held stakes in General Electric Company (NYSE: GE), with a total stake value of about $6.16 billion. This is compared to 69 hedge funds in the previous quarter, with a total stake value of roughly $5.58 billion.

Vulcan Value Partners, an investment management firm, mentioned General Electric Company (NYSE: GE) in its first-quarter 2021 investor letter. Here’s what they 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.”