#5 - General Electric (NYSE:GE)
One distinguishing feature of a defensive stock is that they are usually cash-generating machines. That wasn’t a statement that would have been attributed to General Electric (NYSE: GE) in recent years. But with the hiring of Larry Culp as the company’s CEO, the company is prioritizing cash flow. It was a strategy that Culp used when he held the same title at Danaher (NYSE: DHR). And under Culp’s leadership, the company preserved $3 billion of cash as it weathered the pandemic.
However, cash preservation wasn’t Culp’s only goal. For many years, General Electric had run far afield in terms of its core businesses. Culp has helped streamline the company’s operations. And while its largest business is power turbines, it’s also involved in the health care sector. And that’s why the company is making this list.
GE stock is up over 80% in the last 12 months and is still going strong in 2021. The stock is up 21% for the year, outpacing the S&P 500 index over the same period.
About General Electric
General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.
Read More - Current Price
- $181.11
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 14 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $200.93 (10.9% Upside)
