5 Prominent NYSE Stocks That Hit 52-Week Highs This Week

2. General Electric Company (NYSE:GE)

Number of Hedge Fund Holders: 76

YTD Performance as of December 22: 93.76%

Boston, Massachusetts-based General Electric Company (NYSE:GE) is a leading industrial products company with products ranging from aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing, and industrial products.

On October 24, General Electric Company (NYSE:GE) announced that it plans to spin off GE Vernova and launch GE Aerospace in the beginning of the second quarter of 2024, subject to approvals. GE Vernova will trade on the NYSE under ticker symbol “GEV,” and GE Aerospace will continue to trade on the NYSE under ticker symbol “GE”. The spinoff is part of the company’s plan to “create three independent, investment-grade, industry leaders”. Earlier this year, the company spun off its healthcare division.

General Electric Company (NYSE:GE) has been a consistent component of hedge fund portfolios. As of Q3 2023, its shares were held by 76 of the 910 hedge funds tracked by Insider Monkey, valued at $10.3 billion. Chris Hohn’s TCI Fund Management was the largest shareholder on record with ownership of 41.7 million shares valued at $4.6 billion.