The patch depicts the logo of NAA who were the contractor that was responsible for the manufacture of the second stage of the Saturn V rocket, and also the CSM. The patch would have been attached to coveralls worn at the construction plant
The patch has now been framed and is now displayed alongside three hard hat stickers from TSM106
The picture from the Crewpatches website indicate that the backpatches of this style were in use at the time that Rockwell had merged with North American Aviation in 1967, to the time the name was changed to Rockwell international 1973.
The three Hard hat stickers were chosen from the collection so as to coincide with that time period