#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 GE Aerospace
GE Aerospace (also known as General Electric) is a company that specializes in providing aerospace products and services. It operates through two reportable segments: Commercial Engines and Services and Defense and Propulsion Technologies. It offers jet and turboprop engines, as well as integrated systems for commercial, military, business, and general aviation aircraft.
More about GE Aerospace- Current Price
- $222.40
- Consensus Rating
- Buy
- Ratings Breakdown
- 12 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $216.92 (-2.5% Downside)
