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General Electric Co. (GE) is a multinational industrial company. GE provides a range of products and services, including aircraft engines, power generation, oil and gas production equipment, medical imaging, financing, and more. The company operates through the following segments: Power, Renewable Energy, Aviation, Healthcare, and a financial services segment called GE Capital.
The top shareholders of General Electric are Vanguard, Capital Research Group, and BlackRock. The top individual shareholders are Edward Garden, H. Lawrence Culp, and Russel Stokes.
The company had a share price of $153 as of Feb. 23, 2024, giving it a market capitalization of $166.9 billion. The trailing-twelve-month revenue was $67.9 billion, , with net income of $9.5 billion.
Key Takeaways
- General Electric is a major provider of power generation, renewable energy, aviation, and other industries.
- The largest shareholders in General Electric are asset managers, like Vanguard and BlackRock.
- The largest individual investors are company insiders, like executives and directors.
- In 2021, General Electric announced that it would spin off its healthcare and power generation businesses, with the remainder to focus on aviation.
Top 3 Individual Insider Shareholders
The following are the top individual insider shareholders for GE, based on the company’s filings. This list includes only shares directly owned, not those accessible by stock options or other means.
Edward Garden
Edward Garden owns more than 4 million shares of General Electric, accounting for 0.37% of the company’s total outstanding shares. Garden is a member of GE’s board of directors, and has also served on the boards of Wendy’s, Family Dollar, and the Bank of New York Mellon. He is also one of the founders of Trian Fund Management, where he serves as Chief Investment Officer.
“Insider” refers to people in senior management positions and members of the board of directors, as well as people or entities that own more than 10% of the company’s stock. In this context, it has nothing to do with insider trading.
H. Lawrence Culp, Jr.
H. Lawrence Culp, Jr. owns a total of 1.96 million GE shares, representing 0.18% of the company’s total shares outstanding. Culp is GE’s chair and chief executive officer (CEO). He first joined the company’s board of directors in April 2018 and assumed the role of CEO in October 2018. Prior to joining GE, he served as the president and CEO of Danaher Corp. (DHR) between 2000 and 2014. During that time, Culp helped Danaher increase its revenue and market value by five-fold. He was ranked by Harvard Business Review as one of the Top 50 CEOs in the world.
Russell Stokes
Russell Stokes owns a total of 292,000 GE shares, representing less than 0.01% of the company’s total shares outstanding, according to the company’s 2023 proxy statement. Stokes currently serves as a senior vice president of GE and as president and CEO of the GE Power Portfolio businesses, roles which he has held since June 2017. He is responsible for directing the company’s strategy on technology, solutions, and services across the entire energy value chain. Stokes has held numerous roles with GE, including as CEO of GE Power, president and CEO of GE Energy Connections, president and CEO of GE Transportation, as well as leadership positions in finance, operations, and services within GE Transportation, GE Aviation, and GE Lighting.
Top 3 Institutional Shareholders
Institutional investors hold over 76% of total GE shares outstanding.
Vanguard Group
Vanguard Group owns 88.4 million shares of GE, representing 8.13% of total shares outstanding, according to the company’s 13F filing for the period ending Dec. 30, 2023. The company is primarily a mutual fund and ETF management company with about $7.6 trillion in global AUM. The Vanguard S&P 500 ETF (VOO) is one of the company’s largest ETFs with about $1 trillion in net assets. GE comprises 0.35% of VOO’s holdings.
Capital Research Global Investors
Capital Research Global Investors (CRGI) is the largest institutional shareholder of GE, owning 102 million shares, or 9.4% of the company, according to the company’s 2023 Proxy Statement. CRGI is part of Capital Group, one of the world’s oldest and largest investment management organizations, with over $2.5 trillion in assets under management.
BlackRock
BlackRock, Inc. owns 67.9 million shares of GE, representing 6.2% of total shares outstanding, according to the company’s 13F filing for the period ending Dec. 30, 2023. The company is primarily a mutual fund and ETF management company with about $10 trillion in global AUM. The iShares S&P Core 500 ETF (IVV) is one of the company’s largest ETFs with about $443 billion in assets. GE comprises 0.39% of IVV’s holdings.
What Is General Electric’s Biggest Source of Revenue?
General Electric is a global industrial provider of power generation, renewable energy, and aviation products, among other industries. As of 2023, its biggest revenue driver is aviation and aerospace technologies.
How Much Is General Electric Worth?
Shares of General Electric were trading at $153, as of Feb. 23, 2024. The company’s market capitalization was $166.9 billion.
Why Is General Electric Splitting Up?
General Electric suffered a substantial lost of shareholder value during the 2008 market crash, due to investment strategies that prioritized accumulating financial assets over real-world production. In 2021, the company announced plans to spin off its healthcare and energy generation businesses, with the remainder to focus on aviation. GE Healthcare was spun off in 2023, and the spinoff of GE Vernova, the company’s power generation entity, is planned for early 2024.
The Bottom Line
General Electric is a multinational conglomerate with a valuation in the hundreds of billions. Although it grew aggressively in the 1980s, it suffered during the 2008 financial crash and was forced to shed large parts of its business divisions. After spinning off its healthcare and power generation divisions, it is expected to focus on aviation.