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 GE are H. Lawrence Culp, Jr., Russell Stokes, Jeffrey S. Bornstein, T. Rowe Price Associates Inc., Vanguard Group Inc., and BlackRock Inc. (BLK).
GE’s 12-month trailing net income and revenue are $3.8 billion and $83.9 billion, respectively. The company’s market cap is about $100.4 billion. These financial data are as of January 26, 2021.
“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.
Top 3 Individual Insider Shareholders
H. Lawrence Culp, Jr.
H. Lawrence Culp, Jr. owns a total of 13.9 million GE shares, representing 0.16% 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 owns a total of 274,317 GE shares, representing less than 0.01% of the company’s total shares outstanding. 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.
Jeffrey S. Bornstein
Jeffrey Bornstein owns a total of 188,645 GE shares, representing less than 0.01% of the company’s total shares outstanding. Bornstein serves as a managing partner at Generation Capital Partners, a private equity firm that he joined in December 2019. He served as an investor, board advisor, and/or board member for a number of other companies between 2018 and 2019. Prior to that, he worked at GE for 28 years. Bornstein’s last roles at GE before leaving the company in December 2017 were as vice chair and chief financial officer (CFO). He played a pivotal role in helping GE streamline to a more focused industrial company through a major restructuring.
Top 3 Institutional Shareholders
Institutional investors hold between 60-62% of total shares outstanding.
T. Rowe Price Associates Inc.
T. Rowe Price Associates owns 733.9 million shares of GE, representing 8.4% of total shares outstanding, according to the company’s 13F filing for the period ending September 30, 2020. T. Rowe Price Associates is a subsidiary of T. Rowe Price Group Inc. (TROW), which is a global investment management firm with about $1.3 trillion in assets under management (AUM). The firm offers both exchange-traded funds (ETFs) and mutual funds. Its largest ETF, the T. Rowe Price Blue Chip Growth ETF (TCHP), has $78.7 million in AUM. GE comprises less than 0.2% of the fund’s total assets.
Vanguard Group Inc.
Vanguard Group owns 646.0 million shares of GE, representing 7.4% of total shares outstanding, according to the company’s 13F filing for the period ending September 30, 2020. The company is primarily a mutual fund and ETF management company with about $6.2 trillion in global AUM. The Vanguard S&P 500 ETF (VOO) is one of the company’s largest ETFs with about $184 billion in AUM. GE comprises 0.3% of VOO’s holdings.
BlackRock owns 564.3 million shares of GE, representing 6.4% of total shares outstanding, according to the company’s 13F filing for the period ending September 30, 2020. The company is primarily a mutual fund and ETF management company with approximately $8.68 trillion in AUM. The iShares Core S&P 500 ETF (IVV) is among one of BlackRock’s largest ETFs with approximately $242 billion in AUM. GE comprises 0.3% of IVV’s holdings.