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.
“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 1.7 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.
Francisco D’Souza
Francisco D’Souza is a GE board member and former CEO of Cognizant Solutions, a multinational IT firm. He owns 151,500 shares of GE, making him the second-largest insider.
Russell Stokes
Russell Stokes owns a total of 46,000 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.
Top 3 Institutional Shareholders
Institutional investors hold nearly 80% of total GE shares outstanding.
Capital Research Global Investors
Capital Research Global Investors (CRGI) is the largest institutional shareholder of GE as of Q2 2022, owning 86.6 million shares, or 7.9% of the company. CRGI is part of Capital Group, one of the world’s oldest and largest investment management organizations, with over $2.6 trillion in assets under management.
Vanguard Group
Vanguard Group owns 85.5 million shares of GE, representing 7.8% 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.
T. Rowe Price Associates Inc.
T. Rowe Price Associates owns 83.6 million shares of GE, representing 7.6% of total shares outstanding, according to the company’s 13F filing for the period ending June 30, 2022. T. Rowe Price Associates is a subsidiary of T. Rowe Price Group Inc. (TROW), which is a global investment management firm with about $1.4 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), had $244 million in AUM in Q2 2022. GE comprises less than 0.2% of the fund’s total assets.