Insider Selling: Rockwell Automation, Inc. (NYSE:ROK) VP Sells 467 Shares of Stock

Rockwell Automation, Inc. (NYSE:ROK) VP John M. Miller sold 467 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $284.07, for a total transaction of $132,660.69. Following the completion of the sale, the vice president now directly owns 4,800 shares of the company’s stock, valued at approximately $1,363,536. This trade represents a 8.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Rockwell Automation Price Performance

Shares of ROK opened at $278.13 on Friday. The company has a market capitalization of $31.40 billion, a price-to-earnings ratio of 33.59, a price-to-earnings-growth ratio of 2.89 and a beta of 1.36. Rockwell Automation, Inc. has a fifty-two week low of $242.81 and a fifty-two week high of $312.76. The firm has a 50-day simple moving average of $270.83 and a 200-day simple moving average of $267.11. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 1.08.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.07. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. Rockwell Automation’s revenue was down 20.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.64 EPS. On average, equities research analysts anticipate that Rockwell Automation, Inc. will post 9.46 earnings per share for the current year.

Rockwell Automation Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.31 dividend. The ex-dividend date is Monday, November 18th. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. This represents a $5.24 dividend on an annualized basis and a yield of 1.88%. Rockwell Automation’s dividend payout ratio (DPR) is 63.29%.

Rockwell Automation declared that its Board of Directors has authorized a share repurchase plan on Thursday, September 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ROK. TD Cowen reduced their price objective on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Bank of America lifted their price objective on Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. BNP Paribas began coverage on Rockwell Automation in a research note on Wednesday, November 13th. They set an “outperform” rating and a $345.00 target price on the stock. Wells Fargo & Company lifted their target price on Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Mizuho lifted their price objective on shares of Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $286.13.

Institutional Investors Weigh In On Rockwell Automation

A number of large investors have recently added to or reduced their stakes in ROK. Pathway Financial Advisers LLC purchased a new stake in shares of Rockwell Automation in the first quarter valued at $26,000. Richardson Financial Services Inc. increased its position in shares of Rockwell Automation by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 48 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Rockwell Automation during the 3rd quarter worth $26,000. Darwin Wealth Management LLC acquired a new stake in Rockwell Automation in the 3rd quarter valued at $34,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Rockwell Automation during the second quarter worth about $36,000. 75.75% of the stock is owned by institutional investors and hedge funds.

About Rockwell Automation

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products and services.