What is General Electric?
General Electric (GE) is a multinational digital industrial company with a very wide-ranging portfolio of interests. GE operates the following businesses: Additive, Aviation, Capital, Digital, Healthcare, Lighting, Power, Renewable Energy, Transportation. In addition, oil services provider Baker Hughes is now a GE company (known as BHGE).
General Electric explains its mission in terms of “building the world by providing capital, expertise and infrastructure for a global economy”. For example, GE Capital has provided billions in financing to businesses, enabling them to expand their operations. General Electric also builds appliances, power systems and other products for millions of homes and commercial properties around the world.
In 2017, General Electric was ranked in the Fortune 500 as the 13th biggest U.S. company by gross revenue. As of 11 April 2018, it had a market capitalisation of around $115 billion.
Who are the key people at General Electric?
John L. Flannery has been Chairman and Chief Executive Officer of General Electric since August 2017. He joined GE Capital in 1987, and later served as CEO of GE India and GE Healthcare. Other leading figures at the company include: Jamie S. Miller (Senior Vice-President & Chief Financial Officer); Russell Stokes (President & CEO, GE Power); and Rafael Santana (President & CEO, GE Transportation).
What is the modern history of General Electric?
Founded in 1892, General Electric was one of the original 12 companies listed on the Dow Jones Industrial Average. In modern times, acquisitions have included Enron Wind (2002), Smiths Aerospace (2007), ScanWind (2009), Dresser Inc (2010), John Wood Plc's Well Support Division (2011), Lufkin Industries (2013), and Alstom’s global power division (2015). The latter was GE’s largest-ever industrial acquisition.
But General Electric has also sold off a number of assets in recent years. In 2015 the company announced a plan to sell off its property portfolio to Wells Fargo and The Blackstone Group. GE also sold most of its finance unit and returned around $90 billion to shareholders as it sought to move away from being a "hybrid" company working in both banking and manufacturing.
What are the latest developments at General Electric?
In 2017 General Electric completed a $30 billion deal to combine GE Oil and Gas with Baker Hughes. But it was a difficult year for the company, with revenues down 1% at $122.1 billion, and earnings per share at the low end of the company’s reduced guidance for the year, at $1.051.
The General Electric share price, which fell as low as $7 during the global financial crisis, recovered and climbed to $33 in July 2016. However, the shares fell for most of 2017, and by February 2018 they were back under $15. Despite the sharp drop, J.P. Morgan analysts said in a note in April 2018 that General Electric stock was still the most expensive in the industrial sector. To find out how the shares are doing right now, follow Capital.com. Our GE chart puts all the information at your fingertips.
Where does General Electric operate?
Headquartered in Boston, the USA, the company is located in over 170 countries and employs approximately 313,000 people around the world.
Where is General Electric traded?
GE shares are listed on the New York Stock Exchange (NYSE). The stock is a component of the Dow Jones Industrial Average and both the S&P 100 and S&P 500 indices. Check out Capital.com for the latest GE chart. We’ll keep you up to date and in the picture.