Cyril Perducat, the Senior Vice President and Chief Technology Officer of Rockwell Automation, Inc. (NYSE:ROK), recently sold 137 shares of the company's common stock. The transaction, completed on December 5, 2024, was executed at an average price of $296.3898 per share, amounting to a total sale value of approximately $40,605. This sale was conducted under a Rule 10b5-1 plan, which Perducat entered into earlier this year, primarily to cover taxes due on restricted stock units that vested on December 4, 2024. The transaction occurs as Rockwell Automation, with a market capitalization of $33.4 billion, maintains a "GOOD" financial health score according to InvestingPro analysis.
In addition to the stock sale, Perducat acquired 465 shares of common stock on December 4, 2024, without any cash outlay, as a result of exercising restricted stock units. Following these transactions, Perducat's direct ownership of Rockwell Automation's common stock stands at 3,958 shares. The company has maintained dividend payments for 54 consecutive years and currently trades near its 52-week high of $312.75. For deeper insights into Rockwell Automation's valuation and more exclusive tips, visit InvestingPro, where you'll find comprehensive analysis in our Pro Research Report.
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, targeting $250 million in savings, and strategically positioning for future growth with new product introductions like the LOGICS SIS process safety controller and Vision AI solution. Barclays (LON:BARC) upgraded Rockwell Automation's stock from Underweight to Equalweight, raising its price target to $290, hinting at potential growth catalyzed by the political landscape. Simultaneously, Baird raised its price target on Rockwell Automation shares to $305.00, maintaining an Outperform rating, recognizing the company's advancements in integrating its products and leveraging cloud and artificial intelligence capabilities. However, Goldman Sachs maintained its Sell rating on the shares with a price target of $250.00, expressing reservations about the company's ambitious order acceleration goals for the first half of 2025. Despite challenges, Rockwell Automation expects a gradual improvement in sales through fiscal 2025 and is anticipating more mega project orders in the coming fiscal year.
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