NEW YORK (TheStreet) -- Shares of General Electric (GE) - Get Report are increasing 0.54% to $31.42 in after-hours trading on Thursday after the company's CEO Jeff Immelt purchased 50,000 shares of the stock, Reuters reports.
Immelt bought the stock for $31.45 per share on July 26. The total transaction was worth $1.57 million. He now owns 2.2 million shares of GE's common stock.
Additionally, the Fairfield, CT-based company posted 2016 second quarter earnings last week that beat analysts' expectations.
Adjusted earnings of 51 cents per share topped estimates of 46 cents. Revenue rose 15% to $33.5 billion year-over-year, ahead of Wall Street's projections of $31.9 billion.
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Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "buy" with a ratings score of B.
The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, solid stock price performance, impressive record of earnings per share growth and notable return on equity. TheStreet Ratings feels its strengths outweigh the fact that the company has had generally high debt management risk by most measures that TheStreet Ratings evaluated.
You can view the full analysis from the report here: GE