We read 535 filings today. Here are the ones worth your time.
370 Form 4165 8-K11 Buys113 Sells
A Howmet Aerospace executive just moved $11.3M out of HWM. That's the kind of number that makes you check the calendar for earnings dates.
Meanwhile, five insiders were putting their own capital to work: Blackstone Holdings dropped serious money on $BX, ADP's Swan picked up shares at $ADP, Henry Schein's Daniel bought $HSIC, Eaton's Johnson added $ETN, and Aptiv's Agnevall bought $APTV. Across 535 filings, selling outpaced buying 10 to 1.
Howmet Aerospace's CFO sold $11.3M worth of HWM on Thursday. Discretionary. He cut 39.2% of his position while the stock traded at $273.58, less than 3% from its 52-week high of $281. That's not trimming at the top. That's exiting near it.
The aerospace sector saw seven insiders sell this week. Zero bought. HWM sits just below all-time highs after a 77% run from its 52-week low. The CFO held through the entire climb and chose now to reduce by nearly 40%. The market didn't react. Maybe it should have.
Blackstone Holdings I just bought $1.8M of BX stock at $122, discretionary and not pre-planned. The entity now holds 40% more than before, coming as shares trade 35% below the 52-week high of $190. Private equity firms buying their own stock at multi-month lows tends to mean something.
Board member Swan dropped $746K into ADP at $214 under a pre-planned 10b5-1. The stock is down 35% from its 52-week high as recession fears weigh on payroll processing demand. This scheduled buy expanded his position by 71%, the largest director purchase at ADP in over two years.
Director Daniel William bought $692K of Henry Schein at $69, discretionary and not pre-planned. He added 33% to his position while the stock trades near its 52-week low of $62, flat for the year as dental equipment demand has cooled. Last time an insider bought this size was 18 months ago before a 40% run.
Board member Gerald Johnson dropped $390K into Eaton at $401, just 8% off the 52-week high. This discretionary buy added 40% to his position as the stock trades near record levels. Eaton's electrical infrastructure business is riding the data center buildout wave, but Johnson is buying at valuations that assume perfection continues.
Aptiv's Hakan Agnevall just bought $352K of stock at $54.95, adding 30% to his position. The price is near the 52-week low of $52, down 38% from the high as auto suppliers face margin pressure. Discretionary buy from a director who's been on the board since 2019 and hasn't purchased in over a year.
AMD's SVP of Finance just sold $10.8M in a discretionary sale, offloading nearly 19% of his position at $448. The stock trades 4% below its 52-week high after a 320% run, now at 32 times forward earnings with an RSI of 68. His only other sale in two years was $1.5M, making this seven times larger and his first meaningful exit after the rally.
AMD $448.29 . 52w: $108-$469 . +0% YTD
THE TAPE
LITE
Brian Lillie sells $11.7M of LITE
DDOG
Matthew Jacobson sells $10.0M of DDOG
FIX
CFO William George sells $9.8M of FIX
CRWD
Sameer Gandhi sells $9.2M of CRWD
KLAC
CEO Richard Wallace sells $8.1M of KLAC
EQIX
Charles Meyers sells $5.7M of EQIX
KEY
Of Bank sells $5.1M of KEY
WDC
Brian Davis sells $5.0M of WDC
CAT
President Anthony Fassino exercises options in $4.7M of CAT
ON Semiconductor issued $1.5B in convertible senior notes due 2030 in a private placement to institutional buyers. The company plans to use $350M of the proceeds to repurchase existing 2027 convertible notes and the rest for general corporate purposes including potential acquisitions. The timing is strategic with the stock near its 52-week high at $107, allowing ON to raise capital on favorable terms while maintaining flexibility for M&A in the power semiconductor market.
D.R. Horton entered a new material financing agreement, creating direct financial obligations disclosed in the 8-K. The homebuilder is tapping debt markets while trading 23% below its 52-week high, likely securing capital for land acquisition or construction ahead of the spring selling season. With housing starts still recovering and mortgage rates softening, locking in financing now positions DHI to capture market share if demand accelerates.
Visa entered into a material agreement and disclosed additional corporate events through its 8-K filing, though the specific nature of the deal and other items weren't detailed in the summary data. The stock trades near the middle of its 52-week range at $324, essentially flat for the year. Given Visa's typical disclosure pattern, this could involve anything from a strategic partnership to an update on its ongoing litigation matters, but investors will need the full filing to assess impact.