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Industrials

CEO Immelt Buys $2M More in General Electric Stock (GE)

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By Douglas A. McIntyre Updated Published
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Jeff Immelt, CEO of General Electric Co. (NYSE: GE), has gone active again in buying up shares of company stock.  In an SEC Filing, it shows that Jeff Immelt bought roughly 62,000 shares of GE stock at prices averaging $32.74 to $33.00 in transactions dated today, March 11, and these appear to be purchases on the open market.

This now takes Immelt’s direct ownership of shares up to 1,425,811.  He also holds 21,459 indirect shares listed in his 401K plan.  His purchases today came to about $2 million worth of shareholder buys.  Shares are currently at $33.25 in late afternoon trading.  His value now at today’s prices would be roughly $47.4 million.

He just came out noting that NBC is going to remain part of the conglomerate.

Whether you agree with CEO’s decisions or not, when they plunk down $2 million here and there to buy their stock it starts to look like they have strong convictions. 

Jon C. Ogg
March 11, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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