5 Best Manufacturing Stocks To Buy Now

2. General Electric Company (NYSE:GE)

Number of Hedge Fund Holders: 59

General Electric Company (NYSE:GE) is an American multinational conglomerate that manufactures and commercializes gas and steam turbines, commercial and military aircraft engines, integrated engine components, electric power and mechanical aircraft systems, among others. It is one of the premier manufacturing stocks to invest in. On April 25, General Electric Company (NYSE:GE) reported a Q1 non-GAAP EPS of $0.27 and a revenue of $14.5 billion, outperforming Wall Street estimates by $0.13 and $1.04 billion, respectively. 

According to Insider Monkey’s first quarter database, 59 hedge funds were bullish on General Electric Company (NYSE:GE), and Chris Hohn’s TCI Fund Management is the largest stakeholder of the firm, with 26.1 million shares worth $2.5 billion. 

Vulcan Value Partners made the following comment about General Electric Company (NYSE:GE) in its Q1 2023 investor letter:

“General Electric Company (NYSE:GE) was a material contributor during the quarter. With the successful spin-off of GE HealthCare in early January, the company operates in two major markets: GE Aerospace and GE Vernova. GE Aerospace powers three out of every four commercial flights. GE Vernova helps generate 30% of the world’s electricity and has a meaningful role to play in the energy transition. The company’s service activities, which are higher margin and more resilient, represent approximately 60% of revenue and 85% of its backlog. The company reported strong fourth quarter 2022 results and management’s 2023 outlook is positive.”