Blake D. Moret, President and CEO of Rockwell Automation, Inc. (NYSE:ROK), a $33.4 billion industrial automation company trading near its 52-week high of $312.75, recently sold 1,741 shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The shares were sold at a weighted average price of $296.67, generating a total of approximately $516,503. This transaction was executed on December 5, 2024, as part of a Rule 10b5-1 plan established earlier in the year to cover taxes due on vested restricted stock units. According to InvestingPro analysis, the stock currently trades at a P/E ratio of 35.4x, suggesting a premium valuation.
Following this sale, Moret retains ownership of 80,309 shares held indirectly by a family trust. Additionally, Moret acquired 3,935 shares of common stock through the exercise of restricted stock units on December 4, 2024, though these transactions did not involve any cash exchange. Moret's holdings also include shares represented by company stock fund units in a savings plan, totaling 165.97 shares as of November 1, 2024. InvestingPro data shows Rockwell maintains a strong financial health rating and has raised its dividend for 15 consecutive years, demonstrating consistent shareholder returns. For comprehensive insider trading analysis and 10+ additional ProTips, explore InvestingPro's detailed research report.
In other recent news, Rockwell Automation experienced a challenging fiscal year in 2024, reporting a 9% decline in sales to $8.3 billion. The company is implementing cost reduction strategies and strategic positioning for future growth, introducing new products such as the LOGICS SIS process safety controller and Vision AI solution. Barclays (LON:BARC) increased its price target for Rockwell Automation shares to $290, upgrading the company's stock from Underweight to Equalweight, citing potential growth under the current political landscape. Meanwhile, Baird raised its price target to $305, maintaining an Outperform rating, while Goldman Sachs maintained a Sell rating with a price target of $250. These recent developments reflect Rockwell Automation's commitment to navigate through a difficult period while focusing on long-term growth and structural investments.
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