Rockwell Automation, Inc. (NYSE:ROK) Director James P. Keane Sells 2,000 Shares of Stock

Rockwell Automation, Inc. (NYSE:ROK) Director James P. Keane sold 2,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $296.00, for a total transaction of $592,000.00. Following the transaction, the director now owns 11,518 shares of the company’s stock, valued at approximately $3,409,328. This trade represents a 14.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Rockwell Automation Price Performance

ROK opened at $295.14 on Friday. The stock’s 50-day moving average price is $274.63 and its 200 day moving average price is $268.05. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month high of $312.76. The firm has a market cap of $33.32 billion, a price-to-earnings ratio of 35.64, a PEG ratio of 3.07 and a beta of 1.36. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

Rockwell Automation (NYSE:ROK) last released its earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.07. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the business earned $3.64 EPS. The firm’s quarterly revenue was down 20.6% on a year-over-year basis. As a group, sell-side analysts expect that Rockwell Automation, Inc. will post 9.44 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. Investors of record on Monday, November 18th will be paid a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a yield of 1.78%. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date is Monday, November 18th. Rockwell Automation’s payout ratio is presently 63.29%.

Rockwell Automation announced that its board has initiated a share repurchase plan on Thursday, September 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 3.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ROK shares. Robert W. Baird increased their target price on Rockwell Automation from $290.00 to $305.00 and gave the company an “outperform” rating in a report on Tuesday. TD Cowen lowered their target price on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Oppenheimer increased their target price on shares of Rockwell Automation from $288.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Mizuho lifted their price objective on Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $287.13.

Hedge Funds Weigh In On Rockwell Automation

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pathway Financial Advisers LLC acquired a new stake in Rockwell Automation in the first quarter valued at approximately $26,000. Ashton Thomas Securities LLC purchased a new stake in shares of Rockwell Automation in the 3rd quarter valued at approximately $26,000. Richardson Financial Services Inc. raised its holdings in shares of Rockwell Automation by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 48 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in shares of Rockwell Automation during the 3rd quarter worth $34,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Rockwell Automation during the 2nd quarter worth $36,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

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.