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Esterline, Janus Capital, and Other Stocks Insiders Are Buying

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Below are some stocks that have seen insider buying recently.

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Insiders may sell shares for any number of reasons, but there is really only one reason insiders buy shares of a company: They believe the stock price will move higher and they want to profit from it. Pullbacks and sell-offs provide a perfect opportunity for investors who have faith in a company to snap up shares. Below are some stocks that have seen insider buying recently.

AGCO (NYSE:AGCO): One director purchased more than 330,000 shares of this agricultural equipment maker in September worth almost $11 million. AGCO recently has been expanding into France, and it has a market capitalization of about $4.6 billion. Its return on equity is about 22% and its price-to-earnings (P/E) ratio is less than the industry average. Shares jumped more than 12% in the past month, but the stock has underperformed competitors such as Deere (NYSE:DE) and Kubota (NYSE:KUB) over the past six months.

Esterline Technologies (NYSE:ESL): The general counsel and three directors purchased 6,500 shares worth more than $370,000 of this aerospace and defense company last week. The company issued rosy guidance at the end of August. Its market cap is near $1.7 billion and it has a long-term EPS growth forecast of more than 16%. But the P/E ratio is higher than the industry average. The share price has fallen more than 21% over the past six months. In that time, the stock has underperformed Eaton (NYSE:ETN) and Honeywell International (NYSE:HON).

Janus Capital Group (NYSE:JNS): Beneficial owner Dai-ichi Life Insurance purchased more than four million shares of this asset management company this past week worth more than $39.3 million. Dai-ichi's stake has risen to about 14%, or more than 12.5 million shares. Janus Capital's market cap is about $1.7 billion and its dividend yield is about 2.5%. The 15.8 P/E ratio is in line with the industry average. Shares are trading near the 52-week high after rising more than 42% since the beginning of the year, easily outperforming the S&P 500.

Opko Health (NYSE:OPK): The chairman continues to periodically buy batches of shares, as he has done since last November. He has bought more than 220,000 shares in the past week worth more than $920,000. This Miami-based health care company has a market cap of near $1.2 billion. Short interest is a hefty 22% of the float. Shares have fallen more than 6% in the past month and are now down more than 14% year to date. Over the past six months, the stock has underperformed competitors such as Allergan (NYSE:AGN).

Republic Services (NYSE:RSG): Last week, beneficial owner Cascade Investment bought more than $1.6 million shares, worth more than $47.6 million, in this Phoenix, Arizona -based waste disposal company. Its market cap is about $10 billion. Analysts expect Republic Services to report declining earnings and revenue in the current quarter. The long-term EPS growth forecast is only 6.6%. The stock has pulled back more than 3% in the past two weeks. It has narrowly underperformed competitor Waste Management (NYSE:WM) over the past six months.

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No positions in stocks mentioned.

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