Otis Singleton
General Electric (GE) is a multinational industrial company that provides a range of products and services, including aircraft engines, power generation, renewable energy, aviation products, and financial services through GE Capital. As of 2023, GE's biggest revenue driver is its aviation and aerospace technologies. The company has a market capitalization of $166.9 billion, and its shares were trading at $153 as of February 23, 2024. The top shareholders of GE include Vanguard, BlackRock, Capital Research Global Investors, and Russell Stokes. GE's financial operations include settling commercial paper transactions through the Depository Trust Company (DTC) and managing debt obligations.
| Characteristics | Values |
|---|---|
| Top shareholders | Vanguard, BlackRock, Capital Research Global Investors, Edward Garden, H. Lawrence Culp, and Russell Stokes |
| Company type | Multinational industrial company |
| Products and services | Aircraft engines, power generation, oil and gas production equipment, medical imaging, financing, and more |
| Company segments | Power, Renewable Energy, Aviation, Healthcare, and GE Capital |
| Share price | $153 as of Feb. 23, 2024 |
| Market capitalization | $166.9 billion |
| Electric and General Investment Fund total gross assets | £102,851,443 as of April 30, 2025 |
| Electric and General Investment Fund investment objective | Long-term capital growth with potential for income |
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What You'll Learn
Top shareholders of GE
General Electric Co. (GE) is a multinational industrial company that provides a range of products and services, including aircraft engines, power generation, oil and gas production equipment, medical imaging, and financing. The company operates through the following segments: Power, Renewable Energy, Aviation, Healthcare, and a financial services segment called GE Capital.
As of 30 December 2023, Vanguard Group owned 88.4 million shares of GE, representing 8.13% of total shares outstanding. Vanguard is primarily a mutual fund and ETF management company with about $7.6 trillion in global assets under management. GE comprises 0.35% of the Vanguard S&P 500 ETF (VOO) holdings, one of the company's largest ETFs with about $1 trillion in net assets.
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 largest investment management organizations, with over $2.5 trillion in assets under management.
BlackRock, Inc. owns 67.9 million shares of GE, representing 6.2% of total shares outstanding, as of December 2023. BlackRock is one of the world's largest asset managers.
Other major shareholders of GE include Fmr LLC, TCI Fund Management Ltd, Capital International Investors, State Street Corp, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, VFINX - Vanguard 500 Index Fund Investor Shares, and Price T Rowe Associates Inc.
The largest individual investors are company insiders, like executives and directors. As of 2024, 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 other companies, including Trian Fund Management, where he is one of the founders and serves as Chief Investment Officer. Other top individual shareholders include H. Lawrence Culp and Russel Stokes.
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GE's financial services segment
GE Capital was the financial services division of General Electric. Its various units were sold between 2013 and 2021, including the notable spin-off of the North American consumer finance division as Synchrony Financial. In 2014, GE Capital had 35,000+ employees worldwide, operating in more than 40 countries, with total assets of US$499 billion.
GE Capital's subsidiaries also operated under the GE Money brand. GE Money Canada provided private-label credit card and MasterCard card programs to consumers and lending options for retailers in key industries across the country. GE Money-Canada was also a provider of alternative residential mortgages and patient financing through its CareCredit unit. It was part of the Synchrony Financial spinoff in 2014.
Austria's GE Money (formerly GE Capital Bank) was founded in 1994 after the successful acquisition and merger of Mercurbank and AVABANK. It is one of Austria's leading consumer and auto finance businesses and a market leader in retail sales financing. The Austrian division was purchased, along with the German, Finnish and British store card operations of GE Money, by the Santander Group in January 2009.
In 2015, GE Capital sold its Australian and New Zealand business to a consortium led by Deutsche Bank, KKR and Värde Partners. The business was renamed Latitude Financial Services.
GE Capital's American restaurant finance operations were sold to First Horizon National Corporation, Wintrust Financial and Sterling Bancorp. Its hotel franchise operations were sold to Western Alliance Bancorp. GE Capital Aviation Services (GECAS) were sold to AerCap in 2021.
Mubadala GE Capital, a joint venture with Mubadala Development Company, was sold to MidCap Financial, a portfolio company of Apollo Management. GE Capital Rail Services was sold to First Union Rail, a subsidiary of Wells Fargo, and Marmon Group. GE Capital Bank was sold to Goldman Sachs. GE Healthcare Finance Services was sold to Capital One. GE Capital Equity was sold to Ardian. GE Capital Transportation Finance was sold to BMO Financial Group. GE Capital Corporate Finance — Aircraft was sold to Global Jet Capital, a portfolio company of AE Industrial Partners, the Carlyle Group and GSO Capital Partners.
GE Energy Financial Services provides commercial lending and leasing and a range of financial services for commercial aviation, energy, and support for GE's industrial business units. In Australia, the GE Money brand encompassed the GE Consumer Finance and GE Capital Finance businesses. The company provided car, boat, personal and consolidation loans, credit cards, mortgages and insurance.
GE Vernova's Financial Services business and Alfanar Energia España (“Alfanar”) have established a joint venture to develop renewable energy projects in Spain. GE Energy Financial Services invests in Continuum's 148.5 MW Morjar wind power project in Gujarat, India.
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GE's aviation and aerospace technologies
GE Aerospace is a world-leading provider of jet and turboprop engines, as well as integrated systems for commercial, military, business, and general aviation aircraft. GE Aerospace's Aviation Systems is committed to taking commercial, military, and civil aviation to new heights by providing cutting-edge technologies that are critical to superior aircraft performance.
One of GE's most notable contributions to the aviation industry is the XA100, a fighter jet engine that can automatically reconfigure itself to optimise fuel burn on long patrols or increase thrust in combat situations. This engine is designed to transform in flight to mimic either a passenger jet engine or a fighter jet engine, without requiring any input from the pilot. The XA100 is an example of an adaptive cycle engine, which can effortlessly switch between high-thrust and high-efficiency modes, allowing it to adapt to the diverse situations encountered by military jets.
The XA100's adaptive cycle architecture offers significant improvements in fuel efficiency, thrust, and cooling within a single package. By eliminating the need to choose between marginal advancements in individual characteristics, the engine surpasses the limitations of traditional fighter engine designs. The high-efficiency mode not only enhances fuel conservation but also results in cost savings.
GE Aerospace is dedicated to supporting the future of flight by advancing the development of aircraft engine technologies compatible with alternative fuels. Their integrated propulsion systems and advanced flight management tools are designed to maximise the efficiency of aircraft and crew while adhering to secure, standards-based open architecture. GE's open architecture hosts avionics and utilities functions, delivering major cost benefits and enabling future growth capabilities.
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$59.73 $95
GE's healthcare and energy generation businesses
GE Healthcare, incorporated in 1994, is a leader in precision care, infusing innovation with patient-focused technologies to enable better care. The company has a long history in the imaging business, starting with x-rays in 1920, CT scanners in the 1970s, and MRI machines in the 1980s. GE Healthcare has continued to innovate, such as with the digital Omni Legend PET/CT scanner introduced in 2022. The company has a strong presence in Waukesha, Wisconsin, and collaborates with researchers at the University of Wisconsin-Madison.
GE Healthcare has made numerous acquisitions over the years to expand its business. For example, in 1998, the company acquired Diasonics Vingmed from Elbit Medical Imaging, expanding its ultrasound imaging capabilities. In the same year, GE Healthcare also acquired Marquette Medical Systems and the Nuclear and MR businesses of Elscint. The company has a strong focus on research and development, with over 3800 patents between 2000 and 2009. In 2024, GE Healthcare reported nearly $20 billion in total revenue, with about $13 billion in products and about $6.6 billion in services.
GE's energy generation business, GE Vernova, is focused on delivering the energy technologies needed to electrify and decarbonize the world. The company has a strong presence in over 100 countries and is committed to cutting emissions across its global sites. GE Vernova is working on innovative solutions, such as modular turbines that boost grid stability, to help reduce the carbon intensity of power systems. GE's energy business also includes a large installed base of equipment, with about 55,000 wind turbines and 7,000 gas turbines, contributing to generating approximately 30% of the world's electricity.
GE's energy and healthcare businesses are both driven by a passion for innovation and a commitment to making a positive impact on the world. With their leading technologies and global presence, these businesses play a crucial role in shaping the future of energy and healthcare.
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Electric and General Investment Fund's performance
The fund's investment objective is to achieve long-term capital growth with a potential for income. To achieve this, the fund primarily invests in a portfolio of global equities but may also invest in other areas such as transferable securities, bonds, units and/or shares in collective investment schemes, warrants, money market instruments, cash, and near-cash deposits. There are no limits on sector or asset type exposure, and no specific geographic focus.
As of April 30, 2025, the fund's total gross assets were £102,851,443. The fund's dealing frequency is daily, and it falls under the legal status of an Open-Ended Investment Company. The investment manager is Troy Asset Management Limited, and the authorised corporate director is Yealand Fund Services Limited.
In terms of specific performance metrics, the fund returned -2.4% during a particular month, while the IA Global (TR) sector returned -1.9% in the same period. This underperformance was attributed to the negative impact of Donald Trump's trade policies on consumer and corporate confidence. However, the fund managers express confidence in their long-term strategy, citing the underlying strength of the fund's companies and their ability to weather economic uncertainties.
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Frequently asked questions
General Electric (GE) is a multinational industrial company that provides a range of products and services, including aircraft engines, power generation, renewable energy, aviation products, oil and gas production equipment, medical imaging, and financing.
The top shareholders of GE are Vanguard, BlackRock, Capital Research Global Investors, Edward Garden, H. Lawrence Culp, and Russell Stokes.
The investment objective of the Electric and General Investment Fund is to achieve long-term capital growth with some potential for income by investing principally in a portfolio of global equities and other securities, bonds, collective investment schemes, warrants, money market instruments, and cash.
As of 2023, GE had a market capitalization of $166.9 billion, with shares trading at $153 as of February 23, 2024.
