NEW YORK (TheStreet) -- General Electric (GE) CEO Jeff Immelt is backing up his confidence in the industrial conglomerate's operating improvement by investing his entire 2013 bonus in shares of the company.
Immelt bought 105,000 shares of GE on Monday, investing about $2.6 million, which was confirmed by a GE spokesperson.
Monday's "buy" order from Immelt followed a purchase by the CEO of 40,000 GE shares in January.
In his annual letter to shareholders, which will be published later in March, Immelt said,"I am investing right alongside of you. I have invested my entire bonus in GE stock. Like the rest of our leaders, I believe in GE."
Please see TheStreet's detailed earnings coverage for much more detail on GE and GE Capital.
Shares of General Electric were up 2.2% in morning trading Tuesday, to $25.67.
This chart shows the performance of GE's stock against the Dow Jones Industrial Average and the S&P 500 since the end of 2011:
data by YCharts