5 Stocks Cathie Wood is Selling

4. General Electric Company (NYSE:GE)

Number of Hedge Fund Holders: 67    

General Electric Company (NYSE:GE) is a hi-tech industrial firm. It recently announced plans to split into three separate companies focused on aviation, healthcare, and energy respectively. Many analysts are skeptical of the success of this initiative. However, the share price of the firm jumped over 14% the day the plan was announced. John Slattery, the head of the aviation division of the firm, said recently that the division might soon consider independent deals.

JPMorgan analyst Stephen Tusa recently kept a Neutral rating on General Electric Company (NYSE:GE) stock with a price target of $55, noting that the rumored $20 billion valuation of the energy unit of the firm seemed poorly positioned given margins and portfolio mix.  

At the end of the second quarter of 2021, 67 hedge funds in the database of Insider Monkey held stakes worth $6.08 billion in General Electric Company (NYSE:GE), down from 68 in the previous quarter worth $6.16 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.”