Chairman of General Electric Co. (NYSE: GE), Jeff Immelt, has made another vote of confidence in the stock today. In transactions listed with a trade date of TODAY May 28, 2008, the filing with the SEC shows that Immelt purchased some 115,000 shares at prices between $30.59 to $30.66. At a mid-point, this represents roughly $3.52 Million worth of stock.
As a reminder, he purchased shares earlier before the company dropped the ball on its last earnings report. After that, we came up with a mid-range valuation for the company that is higher than current levels. But it also was using the company’s guidance after it lowered targets.
GE’s 52-week trading range is $30.21 to $42.15. Shares are down $0.02 at $30.38 in early afternoon trading.
Jon C. Ogg
May 28, 2008
Credit Card Companies Are Doing Something Nuts (Sponsor)
We’ve been writing about ways to make, save, and invest money for over 20 years. But some of the cash back credit card rewards today still make our jaws drop. There are $200 cash bonuses, 3% back on gas and groceries, $0 fees, and even some 5% rewards out there right now. For the average American that could mean hundreds, even thousands of dollars on rewards a year.
Don’t miss out on rewards this good, there is no saying how long they’ll last. Click here to see our top picks.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
