Robert L. Buttermore, the Senior Vice President and Chief Supply Chain Officer at Rockwell Automation, Inc. (NYSE:ROK), recently sold shares worth approximately $21,483, according to a recent SEC filing. The transactions were part of a pre-arranged trading plan. According to InvestingPro data, the company currently trades at a high earnings multiple with a P/E ratio of 35.45, suggesting premium market valuation.
On December 9, Buttermore sold 22 shares at a weighted average price of $302.02, totaling $6,644. Further sales occurred on December 10, when he sold a total of 35 shares at prices ranging from $294.85 to $298.89, amounting to $14,839. The company maintains strong fundamentals with a 39% gross profit margin and has demonstrated commitment to shareholder returns, having maintained dividend payments for 54 consecutive years with an 11% dividend growth in the last twelve months.
These sales were conducted to cover taxes due on restricted stock units that vested on December 7 and December 9. Following these transactions, Buttermore holds 2,245 shares directly. The company maintains a moderate debt level and shows good overall financial health, as indicated by its Altman Z-Score of 6.95.
In other recent news, Rockwell Automation has seen its stock upgraded by KeyBanc and Barclays (LON:BARC) due to a positive outlook on future earnings growth and potential political benefits, respectively. However, Goldman Sachs has maintained a Sell rating due to concerns about the company's ambitious order acceleration goals for 2025. Despite facing a challenging fiscal year in 2024, with a 9% decline in sales to $8.3 billion, Rockwell Automation is implementing cost reduction strategies and introducing new products. 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. These are recent developments and the situation may continue to evolve.
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