Insider Transactions is a weekly report of stock transactions involving officers and directors of publicly owned local companies.

Stock trading by corporate insiders often is a bellwether of corporate health. Most insiders buy stock or exercise options to make a profit. And insiders may be selling stock for tax reasons, estate planning or cash needs.

The following insider transactions involving local companies were compiled by States News Service from reports to the Securities and Exchange Commission.

B.F. SAUL REAL ESTATE INVESTMENT TRUST

B. Francis Saul, president of B.F. Saul Real Estate Investment Trust of Chevy Chase, and B.F. Saul Co., a major shareholder, purchased 182,000 shares of beneficial interest on the open market between Jan. 20 and Jan. 25. B. Francis Saul now holds 4.12 million shares indirectly, while B.F. Saul Co. holds 2.54 million shares directly.

CACI INTERNATIONAL INC.

Herbert W. Karr, chairman of CACI International of Arlington, sold 9,000 shares of the company's class A common stock on the open market between Jan. 14 and Jan. 27. Karr currently holds 1 million class A common shares directly.

DYNCORP

William H. Cartwright, a vice president of McLean-based Dyncorp, disposed of his 500 common-share stake in the company. Cartwright sold the stock in an open-market transaction Jan. 29.

GANNETT CO. INC.

John J. Louis Jr., a director of Gannett of Arlington, sold 5,000 common shares in an open-market transaction Jan. 5. Louis now owns 781,01 common shares directly and 724,725 common shares indirectly.

MARTIN MARIETTA CORP.

Norman R. Augustine, an officer of Martin Marietta of Bethesda, sold 15,776 common shares in open-market transactions Feb. 3. Augustine now holds 4,188 common shares directly.

Vice president Robert J. Polutchko disposed of his 8,863 common-share stake in an open-market sale Jan. 28.

Janice K. Henry, a company officer, disposed of 1,935 common shares in an open-market sale Feb. 8. Henry currently holds 17 common shares directly.

MICROS SYSTEMS INC.

Louis M. Brown Jr., chairman of Micros Systems Inc. of Beltsville, acquired 30,000 common shares in a private purchase Jan. 8. Brown now holds 30,000 common shares indirectly.

MORINO ASSOCIATES INC.

General Atlantic Investments Ltd., a major shareholder of Morino Associates of Vienna, sold 291,500 common shares on the open market between Feb. 18, 1987, and Jan. 5, 1988. General Atlantic currently holds 3.4 million common shares directly.

RADIATION SYSTEMS INC.

Marvin D. Shoemake, a vice president of Radiation Systems of Sterling, sold 2,400 company common shares in an open-market transaction Jan. 29. Shoemake now owns 34,340 common shares directly.

ROUSE CO.

Larry M. Wolf, a vice president of Rouse of Columbia, sold 4,500 common shares in an open-market transaction Jan. 19. Wolf currently holds 130,608 common shares directly and 1,165 common shares indirectly.

Vice president Frederick O. Evans sold 2,000 common shares in an open-market transaction Jan. 26. Evans currently holds 19,500 common shares directly and 120 common shares indirectly.

SMITHFIELD FOODS

John L. Gibson II, a director of Arlington-based Smithfield Foods, purchased 1,000 common shares in an open-market transaction Oct. 30. Gibson now owns 3,000 common shares directly.

Charles L. Pope, a company officer, acquired 600 common shares in an open-market purchase Jan. 19. Pope holds 12,000 common shares directly.

VANGUARD TECHNOLOGIES INTERNATIONAL INC.

Harry S. Katrivanos, an officer and a director of Vanguard Technologies of Fairfax, exercised an option to acquire 31,000 shares of the company's class A common stock Jan. 4. Katrivanos now holds 64,773 class A common shares directly.

VM SOFTWARE INC.

James D. Webster, a director of Reston-based VM Software Inc., purchased 8,000 common shares on the open market between Jan. 20 and Jan. 22. Webster now holds 23,902 common shares directly and 6,600 common shares indirectly.