GE: Insider Purchases
Insider Purchases Article Posted Over @ 24/7 Wall Street.
General Electric Co. (NYSE: GE) has a filing showing that insiders are stepping back in to buy more shares of their battered company stock. These two Form-4’s show that CEO & Chairman Jeff Immelt and Vice Chairman Michael Neal each bought stock. Neal’s purchase was 50,000 shares at a price of $7.90 for $395,000.00. His direct holdings are now listed as 753,341 shares. Immelt’s purchase was also for 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).
Jon C. OggMarch 2, 2009
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).
Jon C. OggMarch 2, 2009
Her is the link: http://247wallst.com/2009/03/02/immelt-neal-buying-ge-stock-ge/
*I think I posted this at the very beginning of these GE articles but I will again reitierate that I have clients who hold legacy positions in GE.
posted by CR English at 1:00 PM
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