Tessa M. Myers, Senior Vice President of Intelligent Devices at Rockwell Automation Inc. (NYSE:ROK), has reported multiple stock transactions in a recent SEC filing. According to the filing, Myers sold shares of Rockwell Automation valued at approximately $88,229. The company, currently valued at $33.2 billion, trades at a P/E ratio of 35.5x, suggesting a premium valuation according to InvestingPro analysis.
The transactions occurred over several days. On December 9, Myers sold 72 shares at an average price of $302.03, amounting to $21,746. On December 10, she executed additional sales totaling 224 shares at prices ranging from $294.88 to $297.99, bringing in an additional $66,483. These transactions occurred as the stock traded near its 52-week high of $312.75, with analysts maintaining a hold consensus on the shares.
These sales were conducted under a pre-established Rule 10b5-1 trading plan, which Myers had entered into earlier in the year to cover taxes on vested restricted stock units. Following these transactions, Myers holds 4,881 shares directly.
In addition to the sales, Myers acquired 922 shares through the exercise of restricted stock units, which did not involve any cash transactions. This exercise increased her direct holdings but did not affect the total cash value of the transactions reported.
In other recent news, Rockwell Automation has been navigating a challenging fiscal year, with a 9% decline in sales to $8.3 billion. Despite this, the company is implementing cost reduction strategies and introducing new products, such as the LOGICS SIS process safety controller and Vision AI solution, as part of their commitment to future growth. Analysts from KeyBanc and Barclays (LON:BARC) have upgraded Rockwell Automation's stock, citing positive outlooks on the company's future earnings growth and potential growth in light of the political landscape. Goldman Sachs, however, maintained its Sell rating, expressing concerns about the company's ambitious order acceleration goals for the first half of 2025. These are recent developments in Rockwell Automation's financial performance and stock ratings.
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