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 General Electric (NYSE:GE), a filing with the SEC revealed that on Wednesday, Director William G. Beattie purchased 400,000 shares of GE, at a cost of $25.24 each, for a total investment of $10.1M. Investors can grab GE at a price even lower than Beattie did, with shares trading as low as $24.95 in trading on Thursday -- that's 1.1% under Beattie's purchase price. Before this latest buy, Beattie made one other purchase in the past year, buying $260,098 worth of shares for a cost of $26.01 each.
And also on Wednesday, CEO Seifi Ghasemi bought $4.14M worth of Air Products & Chemicals (NYSE:APD), buying 27,000 shares at a cost of $153.27 each. Before this latest buy, Ghasemi purchased APD at 3 other times during the past year, for a total investment of $10.86M at an average of $139.20 per share. Air Products & Chemicals is trading up about 1.3% on the day Thursday.
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