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Shuda Xia
Shuda Xia
Articles (414) 

Top Insider Buys Highlight for the Week of Oct. 30

Insiders load up on IBM, Raytheon Technologies, Crown Castle and Kimberly-Clark

November 01, 2020 | About:

The largest insider buys this week were in International Business Machines Corp. (NYSE:IBM), Raytheon Technologies Corp. (NYSE:RTX), Crown Castle International Corp. (NYSE:CCI) and Kimberly-Clark Corp. (NYSE:KMB).

International Business Machines director bought 9,250 shares

Director Frederick William McNabb III bought 9,250 shares of IBM on Oct. 28 for an average price of $108.01. The share price has increased by 3.38% since then.

International Business Machines is an American technology company that manufactures and markets computer hardware, middleware and software. The company also offers hosting and consulting services in areas such as mainframe computers and nanotechnology. The company has operations in over 170 countries. The company has a market capitalization of $99.5 billion; as of Oct. 30, it traded at $111.66.

On Oct. 29, IBM announced it has entered into an agreement with AT&T (T) to work together to help enterprises manage their applications hosted in hybrid cloud environments with IBM Cloud Satellite leveraging Red Hat OpenShift, over AT&T networks. Through this partnership, enterprises will now be able to use a single dashboard to manage services across multiple clouds and billions of edge devices with a high level of reliability and security.

Raytheon Technologies executive chairman bought 19,059 shares

Executive Chairman Thomas A. Kennedy bought 19,059 shares of Raytheon on Oct. 29 for an average price of $52.47. The stock has gained 3.53% since then.

Raytheon Technologies is an American company that is one of the largest aerospace and defense manufacturers in the world by revenue and market capitalization. The company focuses on researching, developing and manufacturing technology products in the aerospace and defense industry, including aircraft engines, avionics, cybersecurity and drones. The company was formed by a merger between the aerospace subsidiaries of United Technologies Corp. and Raytheon Co., which was completed in April 2020. The company is also a component of the S&P 100. The company has a market capitalization of $82.5 billion; as of Oct. 30, it traded at $54.32.

On Oct. 14, Raytheon Technologies announced the board of directors declared a dividend of 47.5 cents per outstanding share of the company's common stock. The dividend will be payable on Dec. 17 to shareholders of record at the end of business on Nov. 13.

Crown Castle International director bought 8,050 shares

Director Martin J. Landis bought 8,050 shares of Crown Castle on Oct. 27 for an average price of $161.19. Since then, the share price has decreased 3.1%.

Crown Castle is an American wireless communication services company. It is the United States' largest provider of shared communications infrastructure with more than 40,000 cell towers and approximately 60,000 route miles of fiber supporting small cells and fiber solutions. The company has a market capitalization of $67.37 billion; as of Oct. 30, it traded at $156.20.

On Oct. 22, Crown Castle announced the board of directors declared a quarterly cash dividend of $1.33 per common share. The dividend will be payable on Dec. 31 to shareholders of record at the close of business on Dec. 15.

Kimberly-Clark director bought 3,000 shares

Director Robert W. Decherd bought 3,000 shares of Kimberly-Clark on Oct. 29 for an average price of $132.67. The stock has fallen 0.06% since then.

Kimberly-Clark is an American company that produces mostly paper-based consumer products, including Kleenex facial tissue, Kotex feminine hygiene products, Cottonelle, Scott and Andrex toilet paper and Wypall utility wipes. The company has a market capitalization of $45.1 billion; as of Oct. 30, it traded at $132.59.

On Oct. 22, Kimberly-Clark reported financial results for the third quarter of 2020. Net sales for the quarter totaled $4.7 billion, representing a 1% increase compared to the prior-year period. Diluted net income per share was $1.38, compared to $1.84 a year ago. The operating profit totaled $666 million, down from $915 million last year.

For the complete list of stocks that were bought by their company executives, go to Insider Trades.

Disclosure: I do not own stock in any of the companies mentioned in the article.

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