Although US stocks closed higher on Tuesday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform.
- The Trade: The Boeing Company BA President and CEO David Calhoun acquired a total of 25,000 shares an average price of $158.88. To acquire these shares, it cost around $3.97 million.
- What’s Happening: Redburn Partners recently initiated coverage on Boeing with a Neutral rating.
- What Boeing Company Does: Boeing is a major aerospace and defense firm. It operates in four segments: commercial airplanes; defense, space & security; global services; and Boeing capital.
- The Trade: CME Group Inc. CME Director William R Shepard acquired a total of 48,705.8 shares at at an average price of $170.06. To acquire these shares, it cost around $8.28 million.
- What’s Happening: CME Group recently reported an 11% average daily volume growth in October.
- What CME Group Does: Based in Chicago, CME Group operates exchanges giving investors, suppliers, and businesses the ability to trade futures and derivatives based on interest rates, equity indexes, foreign currencies, energy, metals, and commodities.
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- The Trade: Energy Transfer LP ET Executive Chairman Kelcy Warren bought a total of 1,200,000 shares at an average price of $12.35. To acquire these shares, it cost around $14.82 million.
- What’s Happening: The company recently posted downbeat Q3 results.
- What Energy Transfer Does: Energy Transfer owns a large platform of crude oil, natural gas, and natural gas liquid assets primarily in Texas and the U.S. midcontinent region.
- The Trade: Barnes Group Inc. B President and CEO Thomas J Hook bought a total 35,000 shares at an average price of $38.09. The insider spent around $1.33 million to buy those shares.
- What’s Happening: Barnes recently posted downbeat quarterly sales.
- What Barnes Group Does: Barnes Group Inc is a U.S. based industrial and aerospace manufacturer and service provider. The company operates through two segments: Industrial and Aerospace.
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