Tessa M. Myers, Senior Vice President of Intelligent Devices at Rockwell Automation, Inc. (NYSE:ROK), has reported a sale of 250 shares of the company's common stock. The transaction, which took place on December 5, amounted to approximately $74,085, with shares sold at a weighted average price of $296.34. The sale comes as Rockwell Automation, currently valued at $33.4 billion, trades at relatively high multiples according to InvestingPro analysis. This sale was conducted under a pre-established Rule 10b5-1 trading plan, intended to cover taxes due on restricted stock units that vested on December 4.
Following this transaction, Myers holds 4,255 shares directly. Additionally, she has indirect ownership of shares through company savings plans and nonqualified savings plans, reflecting her continued investment in Rockwell Automation.
In other recent news, Rockwell Automation experienced a challenging fiscal year in 2024, with a 9% decline in sales to $8.3 billion. However, the company's guidance for fiscal 2025 indicates a potential sales range between a 4% decline and a 2% increase, along with a 10% growth in annual recurring revenue and a target of $250 million in cost savings. Barclays (LON:BARC) upgraded Rockwell Automation's stock rating from Underweight to Equalweight and raised their price target to $290, citing potential growth under current political conditions. In contrast, Goldman Sachs (NYSE:GS) maintained its Sell rating with a steady price target of $250, expressing reservations about the company's ambitious order acceleration goals for the first half of 2025. In the meantime, Baird raised its price target on Rockwell Automation shares to $305.00, maintaining an Outperform rating. These are recent developments that investors should be aware of. Despite the downturn, the company continues to invest in research and development, launching new products such as the LOGICS SIS process safety controller and Vision AI solution. Rockwell Automation expects a gradual improvement in sales through fiscal 2025 and is anticipating more mega project orders in the coming fiscal year.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.