Barron's says GE could be a buy

Say no more, General Electric's (NYSE:GE) beat up shares finally caught the attention of Barron's.  GE is of course the second largest U.S. company and Barron's sees limited downside as investors can now make a better case for buying the stock.  You have to pay Barron's to read the article but thanks to Reuters for informing the masses.

The company's shares, which are down about 18 percent year-to-date, have fallen out of favor with investors, Barron's said, but are now trading in line with the price-to-earnings multiples of companies in comparable industries.

The article also said that GE Chief Executive Jeff Immelt continues to buy shares. The chief executive of General Electric Co  bought 115,000 shares of the conglomerate on May 28th, according to a regulatory filing.

In a U.S. Securities and Exchange Commission filing, Jeffrey Immelt said he bought the shares for prices ranging from $30.59 to $30.66 a share, for a total of about $3.5 million.

This is the third time Immelt has directly bought shares in GE on the open market this year, according to insider filing tracker

GE shares closed at $30.72 on Friday on the New York Stock Exchange and spent the week touching new 52-week lows. Monday should be fun, get ready for a bounce.