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Matthew W. Fordenwalt, Senior Vice President of Lifecycle Services at Rockwell Automation, Inc. (NYSE:ROK), recently sold shares of the company's common stock in a series of transactions, according to a filing with the Securities and Exchange Commission. The transactions, executed under a Rule 10b5-1 plan, were carried out to cover taxes due on restricted stock units that vested earlier in December. The sales come at a time when InvestingPro data shows the company trading at elevated multiples across various metrics, though the company maintains strong fundamentals with 54 consecutive years of dividend payments.
On December 9, Fordenwalt sold 20 shares at an average price of approximately $301.99, totaling $6,039. On December 10, he proceeded with further sales amounting to 46 shares, with prices ranging from $295.20 to $298.25, resulting in a total of $13,651. These transactions collectively amounted to $19,690.
Following these sales, Fordenwalt holds 2,838 shares of Rockwell Automation's common stock.
In other recent news, Rockwell Automation navigated a challenging fiscal year in 2024, recording a 9% decline in sales to $8.3 billion. Despite this, the company remains optimistic, implementing cost reduction strategies, and launching new products such as the LOGICS SIS process safety controller and Vision AI solution. Analysts have been observing these recent developments closely. KeyBanc upgraded Rockwell Automation's stock rating to Overweight, citing the company's intensified efforts in cost reduction and operational improvements. Barclays (LON:BARC) also upgraded the stock to Equalweight, noting potential growth in a second term for President Trump. However, Goldman Sachs maintained a Sell rating, expressing concerns about the company's ambitious order acceleration goals for 2025. As part of its future plans, Rockwell Automation projects a potential sales range between a 4% decline and a 2% increase for fiscal 2025, with a 10% growth in annual recurring revenue and a target of $250 million in cost savings. These are recent developments and the situation may continue to evolve.
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