Jim Cramer’s Top 5 Stock Picks This Week

4. General Electric Co (NYSE:GE)

Number of Hedge Fund Investors: 76

Jim Cramer earlier this week gave some bullish comments on General Electric Co (NYSE:GE) after General Electric Co’s (NYSE:GE) renewable energy arm Vernova received approval from the Nuclear Regulatory Commission in the United States to create and ship higher enrichment fuel.

Cramer said that his charitable trust owns a stake in GE HealthCare and “it’s been a rocket lately.” The analyst also praised General Electric Co (NYSE:GE) CEO H. Lawrence Culp Jr. and said he “really has the zeitgeist and it’s not just for show.”

General Electric Co (NYSE:GE) expects to complete the GE Vernova spin-off in April 2024.

Longleaf Partners Fund stated the following regarding General Electric Company (NYSE:GE) in its fourth quarter 2023 investor letter:

“General Electric Company (NYSE:GE) – Industrial conglomerate General Electric (GE) was the top performer for the year. We exited this multi-year investment as its price went above our appraisal. In 1Q23, GE spun out GE Healthcare, which we sold as it traded at our value. The share price continued its strong performance throughout the spring and summer, and we ultimately sold the position in the third quarter when we no longer saw a margin of safety for the business. CEO Larry Culp was a great partner who created significant value for shareholders by reducing leverage, cutting costs, streamlining operations, improving company culture and simplifying the structure with plans to split the company into three businesses. We hope to have the opportunity to partner with him again in the future.”