Connect with us

Business

Rockwell Automation VP sells shares worth over $127k By Investing.com

Published

on



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.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or
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.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or
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.





Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

American Airlines CEO fired top exec after controversial ‘modern retailing’ strategy infuriated corporate clients

Published

on



American Airlines Group Inc. Chief Executive Officer Robert Isom dismissed the carrier’s commercial chief in the wake of a critical report from Bain & Co. about a controversial new marketing system that alienated corporate clients, according to a person familiar with the matter. 

Isom was prompted to fire Vasu Raja within the past few days after the report, which American commissioned from Bain. It revealed concerns by corporate travel advisers over a recent shift in the airline’s sales strategy, which contributed to lagging revenue over the past few quarters, the person said Wednesday.

Raja could not be reached for comment. American announced his departure late Tuesday, and also cut its profit outlook, sending its shares down 14% the next day — the biggest drop in nearly four years.

The new system the CCO had overseen, dubbed  “modern retailing,” sought to push customers away from booking agencies in favor of buying directly through American. The airline’s sales department was cut back as part of the switch. 

But the shift angered some corporate clients and travel management firms, and Raja acknowledged recently that its growth in managed corporate travel volumes was trailing that at rivals United Airlines Holdings Inc. and Delta Air Lines Inc.

Subscribe to the CFO Daily newsletter to keep up with the trends, issues, and executives shaping corporate finance. Sign up for free.



Source link

Continue Reading

Business

Nelson Peltz sells Disney stake

Published

on


Bob Iger and Nelson Peltz.

CNBC

Activist investor Nelson Peltz has sold his entire stake in Disney, a person familiar with the matter tells CNBC.

Peltz sold all of his Disney stock at roughly $120 dollars a share, the person said, making about $1 billion on the position. The stock currently trades for about $100 per share.

The exit comes weeks after Peltz’s Trian Partners lost a proxy battle at Disney in early April as shareholders reelected the company’s full slate of board nominees. Peltz had been seeking to elect himself and former Disney Chief Financial Officer Jay Rasulo to the company’s board.

Peltz had long taken issue with Disney governance. In October, CNBC reported he upped his stake in the company to about 30 million shares and had reignited his proxy campaign, taking particular aim at the company’s streaming strategy and a failed succession plan for CEO Bob Iger.

“We are proud of the impact we have had in refocusing this Company on value creation and good governance,” Trian said in a statement following the April shareholder vote.

Shares of Disney are up about 11% so far this year, slightly edging out the S&P 500.

Disney didn’t immediately return request for comment.



Source link

Continue Reading

Business

Tories would swap ‘rip-off’ degrees for apprenticeships

Published

on


Hazel Shearing,Alice Evans

PA Prime Minister Rishi Sunak is shown how to splice a wire by a field service engineer apprenticePA

The prime minister visited apprentices in Liskeard, Cornwall, on Wednesday

The Conservatives have promised to scrap some university courses in England to help fund 100,000 apprenticeships per year if they win the July election.

The party says it would replace the “worst-performing” degrees that it considers a “rip-off” because of high drop-out rates and “poor” job prospects.

Labour criticised the government over a decline in the number of new apprentices.

It said it would prioritise “gearing” apprenticeships towards young people.

The Liberal Democrats said the government had treated apprentices like “second-class workers”.

The Conservatives said former Labour Prime Minister Tony Blair’s ambition to get half of young people going to university had “led to low-value degrees ballooning”.

In England, the Office for Students (OfS) can already investigate and sanction a university – for example with fines – if it falls below certain standards.

The Conservatives say they would introduce a new law allowing the independent regulator to go further and completely close the poorest-performing university courses.

They would be determined by drop-out rates, job progression and future earnings potential, the party said in a press release.

Speaking at a railway depot in Cornwall on Wednesday, Prime Minister Rishi Sunak added: “University is great and it makes a fantastic option for young people, but it’s not the only option… And what we do know is that there are university degrees that are letting young people down.”

Schools Minister Damian Hinds told BBC Radio 4’s Today programme there had been a “huge increase in quality” in apprenticeships under Conservative governments. Now was the time to “make sure we’re maximising the available opportunities for young people” and supporting businesses with the new scheme, he added.

Mr Hinds said it would not be “right or fair” on current students to say which courses his party considered to be “rip-off” degrees, and said it varied by individual courses rather than by subject.

“Take computer science – you get earnings outcomes from young people studying computer science degrees which will range from £18,000 to £80,000.”

A graphic which reads 'more on general election 2024'

The Conservative Party estimated that the government would save £910m by 2030 if it scrapped courses that taught 13% of students.

It said this was because the taxpayer “offsets” student loans when graduates do not earn enough money to pay them back. The logic here is that removing courses that lead to lower earnings would result in less unpaid debt.

It said its savings would allow the government to invest in 100,000 more apprentices per year by the end of the next Parliament.

The Conservatives’ calculations are based on the assumption that 75% of the students who would have enrolled on those courses would go into employment or apprenticeships instead.

However, there is no limit on the overall number of students that universities in England can admit – so universities could recruit students to other degree courses if some were closed.

The Institute for Fiscal Studies said this meant it was “unclear” whether savings from scrapping “low-value” courses would be large enough to fund the Tories’ expansion plan.

Birmingham City University (BCU) vice-chancellor, Prof David Mba, said the prospect of more apprenticeships was “great” but he did not want that to be at the expense of university courses.

He said the idea that a degree was a rip-off if it did not reach a minimum earning threshold was “bonkers”, particularly for creative subjects.

“Let’s look at my Royal Birmingham Conservatoire. We train musicians, pianists, over three years; they end up with a degree and it will take them probably a while, as a creative out freelancing, to build up a career and to reach certain earning levels that might be commensurate with what the government think it should be,” he told BBC News.

Birmingham City University Prof David Mba smiles at the cameraBirmingham City University

Prof David Mba has 1,500 degree apprentices at Birmingham City University

Prof Mba said many of his students commuted from deprived parts of the West Midlands, and that BCU’s courses – including its degree apprenticeships – offered “social mobility”.

Sabeeha Anium, who studies computer science at BCU, said her degree was “not a rip-off” as she “gets to learn different things” every day.

Speaking to the BBC on her lunch break, she added: “Every single degree is valuable.”

Aaryan Shabbir, who is on the university’s accelerated two-year digital marketing course, said he would welcome seeing more apprenticeships because of concerns around student debt and finding a job post-degree.

He added: “If I’d [known] more about apprenticeships I would’ve done an apprenticeship.”

BBC/Hope Rhodes Sabeeha Anium smiles at the cameraBBC/Hope Rhodes

Sabeeha Anium studies computer science at Birmingham City University

The Association of Employment and Learning Providers welcomed the announcement and said it hoped other political parties would “match this additional funding”.

Chief executive Ben Rowland said: “Whichever party finds itself in government, there will need to be a commitment to encouraging more employers [to] offer apprenticeship opportunities.”

Neil Carberry, chief executive of the Recruitment and Employment Confederation trade body, said the announcement was “using apprenticeships to denigrate university courses, when we need both to flourish if we’re going to grow”.

Apprenticeships are funded partly by the taxpayer as well as by the apprenticeship levy, which is essentially a tax paid by bigger businesses. Those firms, as well as smaller ones, can access the cash to spend exclusively on training apprentices.

Mr Carberry said the levy made apprenticeships more expensive to deliver – particularly lower-level apprenticeships aimed at younger people – so firms were better off if they did fewer of them.

He said while higher-level apprenticeships were replacing degrees for some people, they did not help people who would not have gone to university and needed a different route to skilled work.

Apprenticeship dropout rates in England are about one in two.

Just over half (54.6%) of apprentices completed and passed a final assessment in 2022-23 – well below the government’s 67% target by the end of 2024-25.

Asked about the dropout rate, Mr Hinds said: “It is true that some young people start an apprenticeship and then they don’t [finish it], and then they take a different turn in their career. When they do that, they’ve accumulated of course skills and experience in that job, and they’ve been earning.

“That has long been true in apprenticeships.”

Labour’s shadow education secretary, Bridget Phillipson, said the announcement was “laughable” because the Conservatives had “presided over a halving of apprenticeships for young people”.

She reiterated her party’s promises to introduce technical excellence colleges aimed at training workers for local industries, and to reform the apprenticeship levy into a “growth and skills levy”, which the party says would allow businesses to spend up to half of their levy payments on “more flexible training courses”.

Munira Wilson, education spokeswoman for the Liberal Democrats, said the Conservatives had “broken the apprenticeship system” and “urgent reform is needed”.

“The shockingly low pay for those on apprenticeships will remain, doing nothing to encourage more people to take apprenticeships up or tackle soaring drop-out rates,” she said.

Additional reporting by Branwen Jeffreys and Hope Rhodes.



Source link

Continue Reading
Advertisement

Trending

Copyright © 2024 World Daily Info. Powered by Columba Ventures Co. Ltd.