Immelt & Neal Buying GE Stock (GE)

General Electric Co. (NYSE: GE) insiders are buying shares of their battered company stock.  Two Form-4s filed with the SEC show that CEO  Jeff Immelt and Vice Chairman Michael Neal each bought stock.  Neal’s purchase was 50,000 shares at a price of $7.90 for $395,000.  His direct holdings are now listed as 753,341 shares.  Immelt’s acquired 50,000 shares at $8.26 for some $413,000.00.  His direct holdings are now 1,724,936 shares of GE stock.

Insiders buying stock is no assurance that a slide is over.  Ask Immelt, as he has paid over $30.00 per share just last year.  But insider buying is often a sign that management believes enough is enough.  GE’s stock is down about 9% at $7.72 on very active trading,  Its $7.51 intra-day low is almost $0.90 under Friday’s low (also a multi-year low).

UPDATE AT 3:10 PM EST: Director Ralph Larsen acquired 30,000 shares at $7.65 per share for $229,500.00 today as well.  He now holds 157,784 shares.

Jon C. Ogg
March 2, 2009