Shares of General Electric (GE - Get Report) are up about 10% over the past year. Investors in this $275 billion market cap company like its slow-and-steady climb. Will it continue when the company reports earnings on Friday morning?

The company is doing an excellent job positioning itself in longer-term themes, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said from the floor of the New York Stock Exchange.

It's better positioning itself in aerospace, infrastructure and health care, he pointed out. Because of this, the company's long-term potential looks attractive and it's why Cramer says the stock is a great one to own over the next five years.

Its deal with Baker Hughes (BHI) is also meaningful and looks like it should lead to positive results down the road.

That said, GE can be somewhat of a "controversial stock," Cramer reasoned. The Action Alerts PLUS portfolio name could reach $40 per share in the next few years if it listens to activist investor Nelson Peltz's ideas.

Cramer also said he's unsure of the stock's next immediate move. Still, without having much bias on the short-term, he is not wavering on the company's long-term potential.

Analysts expect GE to earn 46 cents per share on $33.63 billion in sales for the previous quarter.

At the time of publication, Cramer's Action Alerts PLUS had a position in GE.