General Electric banners hangs on the facade of New York Stock Exchange Tuesday, April 2, 2024 in New York. General Electric has completed its split of the one-time conglomerate into three separate companies, as its aerospace and energy businesses prepare to start trading on the New York Stock Exchange as separate entities. General Electric banners hangs on the facade of New York Stock Exchange Tuesday, April 2, 2024 in New York.
In its heyday, GE’s stock became one of the most sought after on Wall Street under Jack Welch, one of America’s first CEO “superstars.” Nicknamed “the house that Jack built,” GE routinely outperformed peers and the broader market, helped in part by GE Capital, its financial wing. Through the 1990s, it returned 1,120.6% on investments. GE’s revenue grew nearly fivefold during the tenure of Welch — who was named chief executive in 1981 — and the company’s value increased 30-fold.
With the split of its companies complete, Culp said it was not an end, but rather a beginning for GE.of the aviation business that is essentially the remaining core of GE, headed by CEO Larry Culp, is GE Aerospace. It makes jet and turboprop engines and retains the “GE” ticker. The energy wing, including GE Renewable Energy, GE Power, GE Digital, and GE Energy Financial Services, is called GE Vernova. It trades on the NYSE under the “GEV” ticker symbol. GE Vernova has an installed base of more than 7,000 gas turbines and approximately 55,000 wind turbines. The company says that it helps generate about 30% of the world’s electricity.