Business
Rockwell Automation VP sells shares worth over $127k By Investing.com
![](https://i2.wp.com/i-invdn-com.investing.com/news/World_News_9_800x533_L_1420026261.jpg?w=1200&resize=1200,0&ssl=1)
Rockwell Automation, Inc. (NYSE:) Vice President and Chief Intellectual Property Counsel, John M. Miller, has recently engaged in significant trading activity involving the company’s stock, according to a new filing with the Securities and Exchange Commission. On May 16, 2024, Miller exercised options and subsequently sold the underlying shares, providing insight into executive confidence and potential future performance of the company’s stock.
Miller executed a sale of 467 shares of common stock at prices ranging from $273.27, amounting to a total transaction value of $127,617. This sale was part of a pre-arranged 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stocks at a time when they are not in possession of material non-public information. This plan was entered into on November 30, 2023.
On the same day, Miller also exercised options to buy 467 shares of Rockwell Automation common stock at $104.08 per share, costing a total of $48,605. The options were part of an employee stock option plan, which vested in three substantially equal annual installments beginning on the date exercisable. These transactions are a routine part of executive compensation and stock ownership strategies.
Following these transactions, Miller’s direct ownership in the company stands at 4,800 shares of common stock. Additionally, the filing noted that Miller has an indirect ownership of 463.73 shares represented by Company stock fund units acquired under the Company Savings Plan. The number of stock fund units represented by the balance of the participant’s Company stock fund account may not exactly equal the number of stock fund units represented by a prior balance due to variance in the proportion of uninvested cash held in the reference fund used to determine unit values of the Company stock fund under the Plan.
remove ads
.
Investors and analysts often scrutinize insider buying and selling as it can provide valuable insights into the company’s health and the sentiment of its leaders. While a sale of shares by an executive could signal various intentions, the use of a 10b5-1 trading plan suggests that the transaction was not based on any immediate knowledge of the company’s performance that is not already public.
Rockwell Automation, headquartered in Milwaukee, Wisconsin, is a leader in industrial automation and digital transformation. The company’s shares are traded on the New York Stock Exchange under the ticker symbol ROK.
InvestingPro Insights
As Rockwell Automation’s (NYSE:ROK) Vice President and Chief Intellectual Property Counsel, John M. Miller, engages in notable stock transactions, it’s essential to consider the broader financial context of the company. Rockwell Automation boasts a strong history of dividend reliability, having raised its dividend for 14 consecutive years and maintained payments for 54 consecutive years, underscoring the company’s commitment to shareholder returns. These are significant InvestingPro Tips that reflect the company’s financial stability and may influence investor sentiment.
Looking at real-time financial metrics from InvestingPro, Rockwell Automation has a market capitalization of $30.91 billion, indicating its substantial presence in the industry. The company’s P/E ratio stands at 26.39, with an adjusted P/E ratio for the last twelve months as of Q2 2024 at 25.26. Additionally, its Price / Book ratio for the same period is at a high of 8.85, which may suggest a premium valuation compared to industry peers. Despite a 7.52% revenue growth over the last twelve months as of Q2 2024, the company experienced a quarterly revenue decline of -6.57% in Q1 2024, highlighting the importance of monitoring short-term financial performance alongside long-term trends.
remove ads
.
For investors seeking a deeper dive into Rockwell Automation’s financial health and future prospects, InvestingPro offers additional insights. Currently, there are 16 more InvestingPro Tips available, which can be accessed by visiting https://www.investing.com/pro/ROK. To enhance your investment research experience, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Business
Russia economy: Relying more China’s yuan is backfiring
![](https://i1.wp.com/fortune.com/img-assets/wp-content/uploads/2024/09/GettyImages-2152711176-e1725738450856.jpg?resize=1200,600&w=1200&resize=1200,0&ssl=1)
After the U.S. and its allies sanctioned Russia in 2022 for its invasion of Ukraine, Moscow turned away from the dollar and euro in international transactions and relied more on China’s yuan.
That coincided with more trade between the two countries as Russia was largely shut out of Western markets as well as the global financial system.
By June, the yuan accounted for 99.6% of the Russian foreign exchange market, according to Bloomberg, which cited data from Russia’s central bank. And Russian commercial banks ramped up corporate loans denominated in yuan.
But this dependence on the yuan is now backfiring as top Russian banks are running out of the Chinese currency, Reuters reported on Thursday.
“We cannot lend in yuan because we have nothing to cover our foreign currency positions with,” German Gref, CEO of top Russian lender Sberbank, said at an economic forum.
That’s because the U.S. expanded its definition of Russia’s military industry earlier this year, thereby widening the potential scope of Chinese firms that could get hit with secondary sanctions for doing business with Moscow.
As a result, Chinese banks have been reluctant to transfer yuan to Russian counterparts while servicing foreign trade payments, leaving transactions in limbo for months. With yuan liquidity drying up from China, Russian companies have tapped the central bank for yuan via currency swaps.
At the start of this month, banks raised a record 35 billion yuan from Russian’s central bank through these swaps, according to Reuters. And banks were expecting more help.
“I think the central bank can do something,” Andrei Kostin, CEO of second-largest bank VTB, said Thursday. “They hopefully understand the need to increase the liquidity offer through swaps.”
But on Friday, Russia’s central bank dashed those hopes, calling on banks to curb corporate loans denominated in yuan.
The Bank of Russia also said in a report that swaps are only meant for short-term stabilization of the domestic currency market and are not a long-term source of funding, according to Bloomberg. But rather than simply filling the roles that dollars and euros did, yuan loans have expanded.
“The increase in yuan lending was partly caused by the replacement of loans in ‘toxic’ currencies, but 41% of the increase was down to new currency loans,” the bank said.
The central bank also released a survey that showed a quarter of Russian exporters had trouble with foreign counterparts, including blocked or returned payments even when dealing in supposedly friendly countries. And about half of exporters said the problems got worse in the second quarter from the prior quarter.
The overall Russian economy has been propped up by the government’s wartime spending as well as oil exports to China and India. But the combination of busy factories and labor shortages due to military mobilizations have stoked more inflation.
Researchers led by Yale’s Jeffrey Sonnenfeld warned the seemingly robust GDP data mask deeper problems in the economy.
“Simply put, Putin’s administration has prioritized military production over all else in the economy, at substantial cost,” they wrote. “While the defense industry expands, Russian consumers are increasingly burdened with debt, potentially setting the stage for a looming crisis. The excessive focus on military spending is crowding out productive investments in other sectors of the economy, stifling long-term growth prospects and innovation.”
In our new special issue, a Wall Street legend gets a radical makeover, a tale of crypto iniquity, misbehaving poultry royalty, and more.
Read the stories.
Business
ETFs are set to hit record inflows, but this wild card could change it
![](https://i2.wp.com/image.cnbcfm.com/api/v1/image/108022829-1724162967851-gettyimages-2167560453-ms1_0760_91wsinss.jpeg?v=1725644771&w=1920&h=1080&w=1200&resize=1200,0&ssl=1)
![ETF Edge, September 4, 2024](https://image.cnbcfm.com/api/v1/image/108029268-1725475250ETF-FULL-090424.jpg?v=1725475249&w=750&h=422&vtcrop=y)
Exchange-traded fund inflows have already topped monthly records in 2024, and managers think inflows could see an impact from the money market fund boom before year-end.
“With that $6 trillion plus parked in money market funds, I do think that is really the biggest wild card for the remainder of the year,” Nate Geraci, president of The ETF Store, told CNBC’s “ETF Edge” this week. “Whether it be flows into REIT ETFs or just the broader ETF market, that’s going to be a real potential catalyst here to watch.”
Total assets in money market funds set a new high of $6.24 trillion this past week, according to the Investment Company Institute. Assets have hit peak levels this year as investors wait for a Federal Reserve rate cut.
“If that yield comes down, the return on money market funds should come down as well,” said State Street Global Advisors’ Matt Bartolini in the same interview. “So as rates fall, we should expect to see some of that capital that has been on the sidelines in cash when cash was sort of cool again, start to go back into the marketplace.”
Bartolini, the firm’s head of SPDR Americas Research, sees that money moving into stocks, other higher-yielding areas of the fixed income marketplace and parts of the ETF market.
“I think one of the areas that I think is probably going to pick up a little bit more is around gold ETFs,” Bartolini added. “They’ve had about 2.2 billion of inflows the last three months, really strong close last year. So I think the future is still bright for the overall industry.”
Meanwhile, Geraci expects large, megacap ETFs to benefit. He also thinks the transition could be promising for ETF inflow levels as they approach 2021 records of $909 billion.
“Assuming stocks don’t experience a massive pullback, I think investors will continue to allocate here, and ETF inflows can break that record,” he said.
Business
Tens of thousands in South Korea protest lack of climate progress By Reuters
![](https://i3.wp.com/i-invdn-com.investing.com/news/indicatornews_4_800x533_L_1413112066.jpg?w=1200&resize=1200,0&ssl=1)
By Sebin Choi and Daewoung Kim
SEOUL (Reuters) – More than 30,000 protesters gathered in South Korea’s capital in broiling heat on Saturday, demanding more aggressive action by the government to combat global warming.
With temperatures exceeding 30 degrees Celsius (86 degrees Fahrenheit), protesters young and old marched in the country’s biggest demonstration so far this year, snarling traffic in central Seoul.
They waved large banners reading “Climate justice,” “Protect our lives!” and “NO to climate villain (President) Yoon Suk Yeol’s administration”.
“Truth is, without the air conditioner this summer was not liveable and people could not live like people,” said Yu Si-yun, an environmental activist leading the protest.
“We are facing a problem not unique to a country or an individual. We need systemic change and we are running out of time to act.”
Organised by the 907 Climate Justice March Group Committee, the protest followed a ruling last month by South Korea’s top court that the nation’s climate change law fails to protect basic human rights and lacks targets to shield future generations.
The 200 plaintiffs, including young climate activists and even some infants, told the constitutional court that the government was violating citizens’ human rights by not doing enough on climate change.
South Korea, which aims to be carbon-neutral by 2050, is the biggest coal polluter after Australia among the Group of 20 big economies, with a slow adoption of renewable energy. The government last year lowered its 2030 targets for curbing industrial greenhouse-gas emissions but kept its national goal of cutting emissions by 40% from 2018 levels.
Even South Korea’s kimchi has fallen victim to climate change. Farmers and manufacturers say the quality and quantity of the napa cabbage used in the ubiquitous pickled dish is suffering due to intensifying heat.
“Feel how long this summer is,” said Kim Ki-chang, a 46-year-old novelist who was participating in the protest for a third straight year.
“This would be a much bigger threat and survival issue to younger generations than the older ones, so I think the older generation should do something more actively for the next generation.”
Seoul has had a record 20 consecutive nights defined as “tropical”, with low temperatures remaining above 25 C (77 F).
Protest organising committee member Kim Eun-jung said the demonstrators chose the popular Gangnam financial and shopping area this year, not the Gwanghwamun area they used last year, to have their voices heard by the many big corporations there that the group blames for carbon emissions.
-
African History5 years ago
A Closer Look: Afro-Mexicans 🇲🇽
-
African History8 months ago
Black History Facts I had to Learn on My Own pt.6 📜
-
African History5 years ago
A Closer Look: Afro-Mexicans 🇲🇽
-
African History1 year ago
Major African Tribes taken away during the Atlantic Slave Trade🌍 #slavetrade #africanamericanhistory
-
African History1 year ago
Cameroon 🇨🇲 World Cup History (1962-2022) #football #realmadrid #shorts
-
African History1 year ago
What did Columbus Find in 1493? 🤯🔥🔥 #history #civilization #mesoamerica #africa #kemet
-
African History7 months ago
Black History Inventors: Mary Kenner 🩸
-
African History1 year ago
Origin Of ‘Cameroon’ 🇨🇲😳#africa