WASHINGTON (Dow Jones/AP) – General Electric Co. Chairman and Chief Executive Jeffrey Immelt Friday bought $521,250 in company stock.

Immelt purchased 15,000 shares Friday at $34.75 each, according to a filing made with the Securities and Exchange Commission. After the transaction, he held 726,122 GE common shares directly, the filing said.

The stock purchase comes amid a major overhaul at the Fairfield, Conn.-based conglomerate, one of the world’s largest companies.

GE this week named three new vice chairmen as part of its push into emerging markets and new businesses in a bid to bolster the company’s growth.

The stock transaction is Immelt’s fifth open-market buy of GE stock since he took GE’s helm in September 2001, according to data from the Washington Service. He also reported buying 27,590 shares in February.

GE shares closed up 12 cents at $34.78 on the New York Stock Exchange.