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 dollars to make a purchase, is that they expect to make money. Today we look at one noteworthy recent insider buy.
On Monday, David Byron Smith Jr. purchased $210,292 worth of Illinois Tool Works, purchasing 872 shares at a cost of $241.16 each. Before this latest buy, Smith Jr. purchased ITW on 2 other occasions during the past twelve months, for a total cost of $359,838 at an average of $255.20 per share. Illinois Tool Works, is trading up about 0.7% on the day Wednesday. So far Smith Jr. is in the green, up about 2.5% on their buy based on today's trading high of $247.14.
VIDEO: Wednesday 6/4 Insider Buying Report: ITW
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