Cramer Continues Buying General Electric (GE)

Jim Cramer continues to add to his position in General Electric (NYSE: GE) for his ActionAlertsPlus.com portfolio. Cramer bought 200 shares of General Electric at $14.22 earlier today. This purchase which will give him a total of 3,300 GE shares, or 1.89% of his ActionAlertsPlus.com portfolio.

Cramer likes GE's shares will work higher as investors realize that management is changing the direction of GE toward more of an industrial company and less of a financial services industry. Cramer added, "As the economic stimulus plans in China and the U.S. are implemented and work through each economy, GE stands to benefit from being the leader of the industry. Lower raw material costs could save the firm as much as $2 billion, along with an overall cost-cutting program to remove $1 billion in expenses."

Cramer thinks that GE deserves to trade at a higher multiple and likely will as investors come back to this blue-chip company.

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