Companies That Will Benefit From Climate Change: 5 Stocks to Watch

2. General Electric Company (NYSE:GE)

Number of Hedge Fund Holders: 53    

General Electric Company (NYSE:GE) is a high-tech industrial firm. It recently announced that it will split up into three firms focused on aviation, energy, and healthcare respectively. The energy division of the firm, heavily invested in alternative energy, will benefit from climate concerns as spending on alternative power sources increases. 

Morgan Stanley analyst Joshua Pokrzywinski recently resumed coverage of General Electric Company (NYSE:GE) stock with an Overweight rating and a price target of $125, backing the firm to show “more promise on most fronts” heading into 2022. 

At the end of the third quarter of 2021, 53 hedge funds in the database of Insider Monkey held stakes worth $6.2 billion in General Electric Company (NYSE:GE).

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.”