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Brian Galovich, Executive Vice President and Chief Information Officer of Air Products & Chemicals, Inc. (NYSE:APD), recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Galovich sold 2,089 shares of common stock on February 13, 2025, at a price of $315.79 per share, totaling approximately $659,685.
Following this transaction, Galovich now directly owns 5,278 shares of the company's stock. Additionally, he holds 143 shares indirectly through a retirement savings plan.
This sale comes as part of routine financial management by company insiders, providing a glimpse into the personal financial activities of Air Products & Chemicals' top executives.
In other recent news, Air Products & Chemicals Inc. has been the subject of several significant developments. Jefferies analyst Laurence Alexander raised the price target for the company to $417, maintaining a Buy rating, and outlined potential strategies that could double or even triple the stock price in the next 5-10 years. However, BMO Capital Markets downgraded the stock from Outperform to Market Perform and lowered the price target to $346, citing concerns about the company's ability to achieve its financial targets for fiscal year 2025. JPMorgan also downgraded the company's stock from Overweight to Neutral and lowered the price target to $320 due to potential risks in earnings growth.
Air Products recently reported first-quarter earnings per share (EPS) of $2.86, slightly above analyst expectations, but revenues fell short at $2.93 billion. The company also provided a second quarter and full fiscal year 2025 guidance that did not meet consensus estimates. Additionally, the company announced amendments to its corporate bylaws and changes in its board leadership structure, including the appointment of Wayne T. Smith as its Chairman and Dennis H. Reilley as its Vice Chairman.
These developments reflect the dynamic nature of the company's performance and strategic decisions. They highlight the varying perspectives of different analyst firms and underscore the importance of ongoing monitoring of the company's financial and strategic performance.
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