Blake D. Moret Sells 26,700 Shares of Rockwell Automation, Inc. (NYSE:ROK) Stock

Rockwell Automation, Inc. (NYSE:ROK) CEO Blake D. Moret sold 26,700 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $298.63, for a total value of $7,973,421.00. Following the completion of the sale, the chief executive officer now owns 78,115 shares in the company, valued at approximately $23,327,482.45. This represents a 25.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Rockwell Automation Stock Down 0.9 %

NYSE:ROK opened at $296.09 on Wednesday. The stock’s fifty day moving average price is $272.78 and its two-hundred day moving average price is $267.48. The company has a market cap of $33.43 billion, a price-to-earnings ratio of 35.76, a P/E/G ratio of 3.02 and a beta of 1.36. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76. 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 issued its quarterly earnings results 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 business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.06 billion. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The firm’s revenue for the quarter was down 20.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.64 earnings per share. On average, analysts anticipate that Rockwell Automation, Inc. will post 9.46 EPS for the current year.

Rockwell Automation Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be given a dividend of $1.31 per share. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.24 annualized dividend and a dividend yield of 1.77%. Rockwell Automation’s payout ratio is currently 63.29%.

Rockwell Automation announced that its Board of Directors has approved a share repurchase 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 repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have weighed in on ROK. Robert W. Baird upped their price target on Rockwell Automation from $290.00 to $305.00 and gave the company an “outperform” rating in a research report on Tuesday. UBS Group assumed coverage on shares of Rockwell Automation in a report on Wednesday, November 13th. They issued a “neutral” rating and a $313.00 target price on the stock. JPMorgan Chase & Co. cut their price target on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a report on Monday, August 12th. Morgan Stanley upped their price objective on shares of Rockwell Automation from $320.00 to $335.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, BNP Paribas started coverage on shares of Rockwell Automation in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $345.00 target price for the company. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $287.13.

Institutional Investors Weigh In On Rockwell Automation

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Prospera Financial Services Inc raised its holdings in Rockwell Automation by 0.9% in the third quarter. Prospera Financial Services Inc now owns 4,033 shares of the industrial products company’s stock worth $1,083,000 after purchasing an additional 37 shares during the period. Mather Group LLC. lifted its holdings in Rockwell Automation by 5.9% during the second quarter. Mather Group LLC. now owns 680 shares of the industrial products company’s stock worth $198,000 after acquiring an additional 38 shares in the last quarter. Pure Financial Advisors LLC grew its stake in Rockwell Automation by 2.7% in the second quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company’s stock valued at $444,000 after acquiring an additional 42 shares during the period. Great Valley Advisor Group Inc. grew its stake in Rockwell Automation by 2.2% in the third quarter. Great Valley Advisor Group Inc. now owns 1,928 shares of the industrial products company’s stock valued at $518,000 after acquiring an additional 42 shares during the period. Finally, Hancock Whitney Corp increased its holdings in shares of Rockwell Automation by 2.5% in the first quarter. Hancock Whitney Corp now owns 1,805 shares of the industrial products company’s stock worth $526,000 after acquiring an additional 44 shares in the last quarter. Institutional investors own 75.75% of the company’s stock.

Rockwell Automation Company 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.