HighTower Advisors LLC Trims Holdings in Rockwell Automation, Inc. (NYSE:ROK)

HighTower Advisors LLC lowered its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 1.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 34,946 shares of the industrial products company’s stock after selling 686 shares during the period. HighTower Advisors LLC’s holdings in Rockwell Automation were worth $9,387,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. grew its stake 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 valued at $26,000 after buying an additional 48 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Rockwell Automation during the 3rd quarter valued at about $26,000. Darwin Wealth Management LLC acquired a new position in Rockwell Automation in the 3rd quarter valued at about $34,000. Strategic Investment Solutions Inc. IL purchased a new stake in Rockwell Automation during the second quarter worth about $36,000. Finally, Cultivar Capital Inc. acquired a new stake in shares of Rockwell Automation during the second quarter worth about $46,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Trading Down 0.6 %

Shares of Rockwell Automation stock opened at $295.42 on Monday. The company has a fifty day simple moving average of $277.67 and a 200-day simple moving average of $268.83. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month high of $312.76. 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 stock has a market cap of $33.35 billion, a price-to-earnings ratio of 35.68, a PEG ratio of 3.06 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 (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.07. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the company posted $3.64 earnings per share. The business’s quarterly revenue was down 20.6% compared to the same quarter last year. On average, equities analysts forecast that Rockwell Automation, Inc. will post 9.39 EPS for the current fiscal year.

Rockwell Automation announced that its board has approved 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 stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Rockwell Automation Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a $1.31 dividend. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. This represents a $5.24 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Monday, November 18th. Rockwell Automation’s dividend payout ratio is presently 63.29%.

Insider Transactions at Rockwell Automation

In related news, VP Scott Genereux sold 279 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $296.13, for a total transaction of $82,620.27. Following the transaction, the vice president now owns 2,891 shares of the company’s stock, valued at $856,111.83. This trade represents a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Veena M. Lakkundi sold 579 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 4,576 shares of the company’s stock, valued at approximately $1,221,151.36. This represents a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,070 shares of company stock worth $10,142,408. Insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Mizuho upped their target price on shares of Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Bank of America upped their price objective on Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. BNP Paribas started coverage on Rockwell Automation in a report on Wednesday, November 13th. They issued an “outperform” rating and a $345.00 target price for the company. Oppenheimer upped their price target on Rockwell Automation from $288.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Morgan Stanley lifted their price objective on Rockwell Automation from $320.00 to $335.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $289.47.

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.