Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by Baldwin Investment Management LLC

Baldwin Investment Management LLC reduced its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 19.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,470 shares of the industrial products company’s stock after selling 610 shares during the period. Baldwin Investment Management LLC’s holdings in Rockwell Automation were worth $663,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pathway Financial Advisers LLC purchased a new position in Rockwell Automation during the first quarter worth about $26,000. Ashton Thomas Securities LLC acquired a new position in shares of Rockwell Automation during the 3rd quarter valued at about $26,000. Richardson Financial Services Inc. boosted 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 during the last quarter. Darwin Wealth Management LLC purchased a new stake in Rockwell Automation in the third quarter valued at approximately $34,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Rockwell Automation during the second quarter worth approximately $36,000. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Rockwell Automation Stock Down 0.4 %

Shares of Rockwell Automation stock opened at $294.95 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 0.72. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year high of $312.76. The business has a 50-day moving average of $273.42 and a 200-day moving average of $267.67. The company has a market capitalization of $33.30 billion, a PE ratio of 35.62, a P/E/G ratio of 3.11 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the firm earned $3.64 EPS. Rockwell Automation’s quarterly revenue was down 20.6% on a year-over-year basis. As a group, equities analysts forecast that Rockwell Automation, Inc. will post 9.44 EPS for the current fiscal year.

Rockwell Automation declared that its Board of Directors has initiated a share buyback program on Thursday, September 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Rockwell Automation Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a yield of 1.78%. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date is Monday, November 18th. Rockwell Automation’s dividend payout ratio is 63.29%.

Insiders Place Their Bets

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of Rockwell Automation stock in a transaction on Monday, November 4th. The shares were sold at an average price of $266.86, for a total value of $154,511.94. Following the completion of the transaction, the senior vice president now owns 4,576 shares of the company’s stock, valued at $1,221,151.36. The trade was a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Blake D. Moret sold 26,700 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $298.63, for a total transaction of $7,973,421.00. Following the sale, the chief executive officer now directly owns 78,115 shares in the company, valued at $23,327,482.45. This trade represents a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,746 shares of company stock valued at $8,560,594 in the last ninety days. Corporate insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ROK shares. JPMorgan Chase & Co. decreased their price target on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. Morgan Stanley lifted their target price on Rockwell Automation from $320.00 to $335.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Barclays upped their price target on Rockwell Automation from $245.00 to $255.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. Wells Fargo & Company lifted their price objective on Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Mizuho increased their target price on shares of Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, Rockwell Automation currently has an average rating of “Hold” and a consensus price target of $287.13.

Rockwell Automation Profile

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.