MILWAUKEE—Terry L. Riesterer, Vice President and Controller at Rockwell Automation, Inc. (NYSE:ROK), recently sold shares of the company's common stock valued at approximately $13,333. The sale, conducted on December 5, involved 45 shares at a weighted average price of $296.3024 per share. This transaction was executed as part of a pre-established Rule 10b5-1 trading plan, primarily to cover taxes due on restricted stock units that vested earlier. The transaction occurs as Rockwell Automation, with a market capitalization of $33.4 billion, trades at relatively high multiples according to InvestingPro data, with a P/E ratio of 35.4x.
Following these transactions, Riesterer holds 2,314 shares of Rockwell Automation common stock directly. Additionally, Riesterer acquired 150 shares through the conversion of restricted stock units on December 4. The report also indicates that Riesterer received 1,284 employee stock options and 404 restricted stock units under the company's long-term incentives plan, although these were not part of the recent sales. Notably, InvestingPro analysis shows the company has maintained dividend payments for 54 consecutive years, with a current yield of 1.76%. For deeper insights into ROK's valuation and 10+ additional ProTips, subscribers can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Rockwell Automation experienced a challenging fiscal year in 2024, with a 9% decline in sales to $8.3 billion. The company is implementing cost reduction strategies and strategic positioning for future growth, with new product introductions such as the LOGICS SIS process safety controller and Vision AI solution. The company's fiscal 2025 guidance indicates a potential sales range between a 4% decline and a 2% increase, with a 10% growth in annual recurring revenue and a target of $250 million in cost savings. Despite challenges, the Americas region remains a strong performer for Rockwell Automation.
On the analyst front, Barclays (LON:BARC) upgraded Rockwell Automation's stock rating from Underweight to Equalweight and increased its price target to $290. The firm cited the potential benefits Rockwell Automation might gain from the political landscape. Meanwhile, Baird maintained an Outperform rating on the company's stock with a raised price target of $305, highlighting the company's advancements in integrating its products and services. Goldman Sachs (NYSE:GS) maintained its Sell rating on the shares, expressing concerns about the company's ambitious order acceleration goals for the first half of 2025.
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