If Jeff Immelt Is Buying GE Shares, Should You Follow? (GE)
October 22, 2007 by Douglas A. McIntyreIf 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
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