GE's Immelt buys $2 mln in shares on open market
Reuters - March 11, 2008 2:51 PM ET
NEW YORK, March 11 (Reuters) - The chairman and chief executive of General Electric Co (GE) reported on Tuesday that he bought about $2 million worth of the conglomerate's common stock on the open market.
The CEO, Jeffrey Immelt, bought the 62,000 shares earlier Tuesday at prices between $32.74 and $33, according to a filing with the U.S. Securities and Exchange Commission.
The transactions increased Immelt's direct holdings by 4.5 percent to 1.36 million shares. Last month, Immelt bought 90,000 shares at about $33.42 each.
GE shares set a 52-week low of $31.65 on Monday. They were up $1.46 to $33.16 Tuesday on the New York Stock Exchange. (Reporting by Nick Zieminski; editing by Jeffrey Benkoe)
Subscribe to:
Post Comments (Atom)
2 comments:
I am certain we have to follow - I consider GE as a value investment at this price.
Look @ the following link for calculating of intrinsic value. The margin of safety is 59% http://www.investinvalue.com/2/1/detail.php?ric=GE.N
Cheers, KE
yes I added to my positions at $33.25
Post a Comment