Isaac Woods, Vice President and Treasurer of Rockwell Automation, Inc. (NYSE:ROK), reported selling shares worth approximately $22,993 in recent transactions. The sales occurred on December 9 and 10, 2024, with shares sold at prices ranging from $295.1672 to $302.0048. The company, currently trading near $294, has maintained dividend payments for 54 consecutive years and shows good overall financial health according to InvestingPro analysis.
On December 9, Woods sold shares totaling $8,151, with prices per share between $298.945 and $302.0048. This transaction was part of a pre-established Rule 10b5-1 plan to cover taxes on recently vested restricted stock units.
Further sales on December 10 amounted to $14,842, with shares sold at prices ranging from $295.1672 to $298.2519. These sales were also executed under a Rule 10b5-1 plan, aimed at covering tax obligations related to stock vesting.
Following these transactions, Woods holds 2,101 shares of Rockwell Automation common stock directly. The company's stock has shown a 6.9% total return over the past year, while maintaining its position as a consistent dividend payer with 15 consecutive years of dividend increases.
In other recent news, Rockwell Automation has experienced a challenging fiscal year in 2024, with a 9% decline in sales to $8.3 billion. Despite this downturn, the company is implementing cost reduction strategies and introducing new products, such as the LOGICS SIS process safety controller and Vision AI solution. For fiscal 2025, Rockwell Automation projects 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.
In the realm of analyst ratings, Rockwell Automation has received varied perspectives. The company's stock has been upgraded by KeyBanc and Barclays (LON:BARC), with new price targets of $345 and $290, respectively. Meanwhile, Goldman Sachs has maintained its Sell rating, citing concerns about the company's ambitious order acceleration goals for the first half of 2025. Baird has also maintained an Outperform rating, raising its price target to $305.
These recent developments reflect Rockwell Automation's commitment to navigate a difficult period while focusing on long-term growth and structural investments. The company's management is showing a renewed commitment to cost reduction and operational improvements, which are expected to contribute to its financial recovery and growth in the forthcoming years. These are recent developments and the situation may continue to evolve.
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