GE: boss buys 3 million dollars worth of shares
(CercleFinance.com) - Lawrence Culp, the head of GE, has bought 331,684 shares of the US industrial group at a price of 9.
04 dollars each, representing an investment of nearly 3 million dollars.
After this acquisition, completed in during trading yesterday, the boss of GE directly and indirectly holds over 940,000 of the conglomerate's shares, currently representing an estimated stake of over nine million dollars.
The GE share is currently up 5.2% at 9.5 dollars.
GE last month raised its earnings guidance for FY 2019 after doing better than expected in the second quarter.
However, the share has fallen by almost 25% over the past year.
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