Insider Selling: Rockwell Automation, Inc. (NYSE:ROK) CEO Sells $338,553.21 in Stock

Rockwell Automation, Inc. (NYSE:ROK) CEO Blake D. Moret sold 1,121 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $302.01, for a total value of $338,553.21. Following the completion of the sale, the chief executive officer now owns 81,754 shares in the company, valued at approximately $24,690,525.54. This represents a 1.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Rockwell Automation Price Performance

Rockwell Automation stock opened at $302.92 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average price of $279.47 and a 200 day moving average price of $269.50. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month high of $312.76. The stock has a market cap of $34.20 billion, a P/E ratio of 36.58, a PEG ratio of 3.11 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last announced its quarterly 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. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.06 billion. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The business’s revenue was down 20.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.64 EPS. Sell-side analysts anticipate that Rockwell Automation, Inc. will post 9.38 earnings per share for the current year.

Rockwell Automation declared that its Board of Directors has authorized a stock buyback program on Thursday, September 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Rockwell Automation Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.73%. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Monday, November 18th. Rockwell Automation’s dividend payout ratio (DPR) is presently 63.29%.

Institutional Investors Weigh In On Rockwell Automation

A number of institutional investors have recently made changes to their positions in the stock. Ashton Thomas Securities LLC purchased a new position in shares of Rockwell Automation during the 3rd quarter worth approximately $26,000. Richardson Financial Services Inc. lifted its stake in Rockwell Automation by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 48 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Rockwell Automation during the third quarter worth $34,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Rockwell Automation in the second quarter valued at $36,000. Finally, Cultivar Capital Inc. acquired a new position in Rockwell Automation during the 2nd quarter worth about $46,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Bank of America increased their price target on shares of Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Wells Fargo & Company raised 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. Citigroup raised their price objective on Rockwell Automation from $313.00 to $345.00 and gave the company a “buy” rating in a report on Monday. Jefferies Financial Group upgraded Rockwell Automation from a “hold” rating to a “buy” rating and increased their target price for the company from $290.00 to $350.00 in a research report on Thursday. Finally, KeyCorp raised shares of Rockwell Automation from a “sector weight” rating to an “overweight” rating and set a $345.00 price objective on the stock in a report on Monday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Rockwell Automation has an average rating of “Hold” and a consensus target price of $301.17.

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.