Friday 10/28 Insider Buying Report: T, ITW Friday, October 28, 10:31 AM ET
Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At AT&T (T), a filing with the SEC revealed that on Tuesday, Director Geoffrey Y. Yang purchased 27,129 shares of T, for a cost of $36.91 each, for a total investment of $1.00M. Bargain hunters can grab T even cheaper than Yang did, with the stock changing hands as low as $36.52 at last check today which is 1.0% under Yang's purchase price. AT&T is trading up about 0.1% on the day Friday.
And also on Tuesday, Director Jay L. Henderson bought $447,760 worth of Illinois Tool Works (ITW), buying 4,000 shares at a cost of $111.94 a piece. Illinois Tool Works is trading up about 0.4% on the day Friday. Henderson was up about 2.1% on the purchase at the high point of today's trading session, with ITW trading as high as $114.25 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.
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