If Jeff Immelt Is Buying GE Shares, Should You Follow? (GE)

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If a CEO is out buying stock in his company, it usually gets noticed.  When it is General Electric (NYSE:GE) and when it is open market share purchases it should get even more notice.  Here is the full SEC Filing with the details of the transactions.

Jeff Immelt, CEO & Chairman of GE, has purchased roughly 83,000 shares today in the open market broken down in 11 separate transactions dated today for what appears to be slightly more than $3.3 million.   This was in various transaction between $40.03 and $40.13 and this takes Immelt’s direct share beneficial ownership to 1,071,653.

General Electric is such a large and vast company that actions of a single person alone might not move the meter.  But a $3.3 million vote of confidence from the likes of Jeff Immelt is hard not to pay attention to.

Jon C. Ogg
October 22, 2007