Insiders Buy Rockwell Automation and 2 Other Stocks – RXO (NYSE:RXO), Rockwell Automation (NYSE:ROK)

While US stocks closed mixed on Monday, there were some noteworthy domestic trades.

When insiders buy shares, it indicates that they have confidence in the company’s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long the stock. Domestic purchases should not be considered the only indicator for making an investment or trading decision. At best, it can lend conviction to a purchasing decision.

Below is a look at some notable recent insider purchases. For more information, check it out Benzinga’s insider transactions platform.

Triumph Group

• The Commerce: Triumph Group, Inc. TGI Director Neal J. Keating purchased a total of 7,200 shares an average price of $14.53. To acquire these shares, the cost was approximately $104,616.00.
• What is going on: Triumph reported third-quarter results below consensus and cut its outlook for fiscal 2024.
• What the Triumph Group does: Triumph Group Inc designs and manufactures a broad portfolio of aerostructures, aircraft components and systems for the aviation industry.

RXO

• The Commerce: RXO, Inc RXO 10% owner Farhad Nanji acquired a total of 1,832,906 shares at an average price of $20.67. To acquire these shares, the cost was approximately $37,879,452.
• What is going on: RXO reported worse-than-expected fourth-quarter revenue results.
• What RXO does: RXO Inc is a brokered transportation platform featuring cutting-edge technology and an agile, lightweight business model, the most important component of which is its core truck brokering business.

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Rockwell Automation

• The Commerce: Rockwell Automation, Inc. YEAR President and CEO Blake D. Moret purchased a total of 3,500 shares at an average price of $283.65. These shares cost approximately $992,757 to purchase.
• What is going on: 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.

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