Insiders Buying Rockwell Automation And 2 Other Stocks

Author: Avi Kapoor | February 13, 2024 09:44am

Although U.S. stocks closed mixed on Monday, 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.

Triumph Group

• The Trade: Triumph Group, Inc. (NYSE:TGI) Director Neal J Keating acquired a total of 7,200 shares an average price of $14.53. To acquire these shares, it cost around $104,616.00.
• What’s Happening: Triumph reported below-consensus third-quarter results and cut the FY24 outlook.
• What Triumph Group Does: Triumph Group Inc designs and manufactures a broad portfolio of aerostructures, aircraft components, and systems for the aviation industry.

RXO

• The Trade: RXO, Inc (NYSE:RXO) 10% owner Farhad Nanji acquired a total of 1,832,906 shares at an average price of $20.67. To acquire these shares, it cost around $37,879,452.
• What’s Happening: RXO reported worse-than-expected fourth-quarter revenue results.
• What RXO Does: RXO Inc is a brokered transportation platform defined by cutting-edge technology and a nimble, asset-light business model, with the largest component being core truck brokerage business.

Don’t forget to check out our premarket coverage here

Rockwell Automation

• The Trade: Rockwell Automation, Inc. (NYSE:ROK) President and CEO Blake D. Moret bought a total of 3,500 shares at an average price of $283.65. To acquire these shares, it cost around $992,757.
• What’s Happening: Rockwell Automation reported worse-than-expected first-quarter results.
• What Rockwell Automation Does: Rockwell Automation is a pure-play automation competitor that is the successor entity to Rockwell International, which spun off its former Rockwell Collins avionics segment in 2001.

 

Check This Out: Jim Cramer Says This Construction Giant Is 'So Good' And 'Goes Higher'

 

Posted In: ROK RXO TGI