GE Chief Buys 25,000 Shares in Company
Bloomberg News
Jeffrey Immelt, chief executive of General Electric Co., bought 25,000 company shares as stock markets plunged this week.
Immelt bought the stock Tuesday for $35.11 a share, according to a filing with the Securities and Exchange Commission. He now holds 196,515 common shares in the Fairfield, Conn.-based company, whose businesses range from jet engines to insurance.
GE, a component of the Dow Jones industrial average, has seen its share price drop 22% this week. On Thursday the stock dropped $2.13 to $30.37 on the NYSE, lowest since 1998.
Immelt is scheduled to address shareholders and analysts today.
